When the U.S. government passes a bailout bill worth close to $1 trillion, you might think this would be front-page news. It isn’t.
You might think Republicans would be fighting it. They aren’t.
Why not? Becquse it’s that old favortite, agribusiness.
In the name of helping the small farmer, the agrigribusiness industry lives high on the hog. It lives on the federal tit.
This will never change until the Great Default.
The bill covers five years, so it’s really a “mere” $194 billion a year.
It covers food stamps. It covers crop insurance: zero-risk pricing of crops. It’s pork. Literally.
The promoter of this system of government-subsidized agriculture is being hyped by the Senate Agriculture Committee is a “new, improved” system of facism. (Fascism is what it is: the alliance between big busibess and big government.
Supposedly, it’s much more free market today. The Chairwoman of the committee proclaims: “The Farm Bill before us today makes major reforms. We are cutting subsidies. We are ending direct payments. We cut the deficit by over $23 billion.”
It’s pure pork. It’s Crisco for agribusiness.
The senior Republican on the Agriculture Committee insists: “They’re real cuts. They are real deficit savings.”
Right. Count $970 billion in bailout money as savings. I believe!
This has been going on since Roosevelt’s New Deal. It will not change. We do not have a free market in agriculture. We have a fascist system. The voters do not care. The farmers pretend they are not wards of the state. The voters pretend that they are not subsidizing inefficiency. They also do not understand that they pay more for food because of this fascist system.
Everyone is just fine with the arrangement. No one pays any attention.
The Senate bill is likely to be larded by the House of Representatives.
Then Obama will sign it. It’s an election year. He does not want to lose the farm bloc vote. It is made up mostly of urban residents in farm states who overpay at the supermarket for food.