Wednesday, May 14, 2008

It's over...

Unlike some, I know when I'm beaten. The 2008 Farm Bill passed the House with a veto-proof majority. While I am disappointed, I respect the will of the majority.

The more interesting factor in the long run may be the traditional way it passed - by ignoring any fiscal restraint whatsoever. This could be a fairly typical pattern for what will pass for bipartisanship in the future: hand out money to everybody until you have votes.

Could this disregard for deficits lead to inflation to devalue the debt incurred? Or to taxes, especially on the wealthy? Both I feel to be likely, and I will make my plans accordingly.


Ol James said...

Isn't that the way most Congressional matters are solved, by throwing money at it until it goes away?? For some reason I am reminded of a scene from the Steve Martin movie "The Jerk". He is sitting at his desk and there is a line of people out the door. One fellow wants to drag an iceberg to the desert, another needs new leather seat covers for his plane. The majority of the time he is just signing checks.
I guess Congress dosen't need to worry about trifle matters like the deficit and the like. Afterall they don't have to pay for it, we do.

Anonymous said...

Sad to see the leading economy in the world allow itself to self destruct financially while the rest of the world watches. I truly hope that a strong sense of competence, foresight, and responsibility takes hold soon. Meanwhile, as has been said, "absolute power corrupts absolutely!"