| || || Freedom Update: December
Farming the Halls of Congress
You may be surprised to learn that agriculture is one of the most regulated and controlled parts of the U.S. economy. Remember the Soviet Unions Five Year Plans? Congress authors a new farm bill every 5 years to set prices and manage supplies of Americas major commodity crops.
The 2007 Farm Bill, which has already passed the House and Senate, will spend $288 billion. Its easily the most anti-consumer, anti-freedom Farm Bill in a generation. The failure of Congress to reform these programs comes despite record farm prices this year. The nation is missing a tremendous opportunity to reform a set of programs that are antithetical to free market competition and limited government principles.
America wanted some kind of rational socialism in agriculture, such a program would look nothing like the byzantine Farm Bill currently before Congress. Our current agriculture program is a prime example of the folly that occurs when decisions are made by political criteria instead of market criteria.
Enter the Budget-Busting Omnibus
Last night, the House, as expected, passed the earmark-laden omnibus. The bill now heads off to the Senate, where, after the addition of about $70 billion in troop funding, its expected to pass. This huge spending measure is packed with policy riders, earmarks and budget gimmicks that add billions of dollars in spending to an already gigantic U.S. budget.
This bill includes more than 8,000 earmarks, so that politicians can spend taxpayer money on their own pet projects. It has
budget gimmicks that hide $14 billion of additional spending, to avoid responsibility for over-spending in Congress. A better idea for funding the government through next year is a continuing resolution. A clean continuing resolution would leave government programs funded at their current levels, but no more, and would save taxpayers billions of dollars.
More in the FreedomTalks Blog
Read the Key Vote Notice
Take Action and Send a Letter to Congress
Sixty-one Economists Oppose Government Bail Out for Subprime Mortgages
FreedomWorks made the news last week when it released an open letter from economists opposing government intervention into the
mortgage market. This letter should give policymakers pause in their rush to pass bailout schemes for the real estate market. Most of the policy proposals before Congress would arbitrarily rewrite private contracts, reward speculative lending and borrowing, and expose taxpayers to additional risks.
Though it's understandable that legislators might want to respond to homeowner difficulties, the proposed regulations only serve to decrease credit availability for the poor and disadvantaged. Todays letter adds an important new voice to the debate, that of many of the nations professional economists, who are calling on Congress to act responsibly and allow the subprime market to work through the current repricing of mortgage-backed securities.
Read the Letter
Learn More: Watch my new YouTube video on the
Read More in the FreedomTalks Blog: More Mortgage Madness
November Campaigns Report
The month of November witnessed growing threats to American freedom. Throughout the month, Representative Charlie Rangels horrendous tax reform and talk of subprime mortgage bailouts threatened to sweep away entire chunks of the market with increased taxes, regulations, and general government meddling. Against this tide of bigger government, FreedomWorks stood tall and even scored some victories.
Thanks for helping us in the fight for liberty, and have a wonderful holiday season!
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