Democrats and Republicans Teaming Up to Cut Subsidies


Even I was happily surprised to learn that Democrats and Republicans are working together to weed out farm subsidies – at a modest savings to the taxpayer.

A rare showing of bipartisianship in Washington has led to some big cuts in federal spending for farmers…

http://i.cdn.turner.com/cnn/.element/apps/cvp/3.0/swf/cnn_416x234_embed.swf?context=embed&contentId=politics/2012/06/14/bash-bi-partisan-budget-cutting.cnn

I’ve long disapproved of farm subsidies and I’m glad this is getting taken care of.

Farming, like manufacturing or retail or insurance, is a business. All businesses have risks. For too long, the government has been issuing subsidies to farmers as a “safety net” to help them out in years when they have a bad harvest – in other words, giving our money to farmers to make their businesses less risky to run. That’s not something the government is meant to do, or in fact, should be doing at all.

Government exists to protect the rights of individuals, and nobody has a right to make money for failed crops. At least, I haven’t seen anything pertaining to that in the constitution. If government isn’t meant to give people some kind of a monetary cushion, then why should it be subsidizing farmers? A $35,000 per year payment for basically nothing doesn’t make a whole lot of sense when we’ve got a $15 trillion dollar national debt to pay off. And on top of it all, subsidies, like taxes, can have a distorting effect on the market (making food artificially cheaper) that’s not always good for the economy (a food surplus, a sure sign of wasted resources).

Anyway, I’m glad Sens. Stabenow and Roberts pulled the plug on this deal. Let’s use the money for more important things, at let the free market take care of the farmers. After all, helping people make money is what the free market does best.

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I'm a young guy with a news addiction. I love engineering, politics, and economics, and I have a mind built for analysis. Also, I write a lot, though I hate the paperwork... You can read my work at www.dynamopolitics.com !

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DYNAMOpolitics

DYNAMOpolitics

I'm a young guy with a news addiction. I love engineering, politics, and economics, and I have a mind built for analysis. Also, I write a lot, though I hate the paperwork... You can read my work at www.dynamopolitics.com !

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