“No Man’s life liberty or property is safe while the legislature is in session”. Long attributed to Mark Twain and various other nationally prominent humorists, the quote is actually the invention of Judge Gideon Tucker, formerly of the New York legislature. Unfortunately, the quote is true whether Republicans or Democrats control Congress.
In this case, it seems Republicans haven’t figured out that we have a spending problem in the United States.
And proof of that ignorance is clear in the Farm Bill, a sacred cow (no pun intended) to farm belt legislators from both sides of the aisle.
Proof that Congressional inaction during this election is a good thing is evidenced by the Farm Bill, currently held up in Congress. According to the Wall Street Journal Republicans just don’t get it when it comes to any semblance of spending reductions. The current farm bill increases spending by 60% over 2008 levels, and not all of that is attributed to Barack Obama’s extraordinary increases in Food Stamp outlays:
That’s because despite Agriculture Chairman Frank Lucas’s assurances that his product is “fiscally responsible,” the House farm bill authorizes a nearly 60% increase in spending over 2008 levels. Some of that money goes to new crop entitlement programs, although nearly 80% would finance Mr. Obama’s soaring food-stamp program at historic levels.
Frank Lucas, Chairman of the House Agriculture Committee, and a conservative Oklahoma Republican, is a friend of mine. Nevertheless, he, along with the remainder of the Committee, need to recognize that we are spending ourselves into oblivion. More than 40% of those funds scheduled to be spent under that bill will need to be borrowed – from foreign sources or from bonds sold to the Federal Reserve.
If Republicans can’t reduce spending, or even maintain a baseline level of spending, then it really won’t make much difference who wins this November. Republicans or Democrats will just keep spending until at some point interest rates start to rise, inflation kicks in, or we just fall off the fiscal cliff.
Come on, Republicans, wake up and quit spending money.