CEI Today: Senate vote on bank guarantees, Farm Bill boondoggle, and an anti-immigration group denounces CEI

SENATE VOTE ON BANK GUARANTEES - JOHN BERLAU

National Review: Conservatives: End TAG, TARP’s Subsidy to the Rich’s Bank Accounts

While waxing on about how Democrats want a “balanced approach” to deficit reduction, including for sacrifice by “the rich,” Senate majority leader Harry Reid has apparently slated a Senate vote as early as this Monday afternoon that would throw both priorities out of balance.

The vote is on extending for another two years the Transaction Account Guarantee (TAG) program — unlimited government-guaranteed deposit insurance for non-interest bank and credit union accounts, over and above the $250,000 limit for all accounts.  > View the full commentary at Nationalreview.com

> Interview John Berlau

FARM BILL & FISCAL CLIFF - FRAN SMITH CEI.org: Taxpayers Won't Harvest Farm Bill Savings Eleven policy and taxpayer groups, including the Competitive Enterprise Institute, sent a joint letter today to Members of Congress urging them not to include a bloated Farm Bill as part of a deficit reduction package. As the letter notes, “The full House hasn’t even considered a Farm Bill. Amendments will not be allowed. Only in Washington can a more than 500 page, $1 trillion bill be called deficit reduction and slapped onto legislation to deal with the real budgetary challenges of sequestration and tax hikes.” > View the coalition letter on CEI.org > Interview Fran Smith

IMMIGRATION - DAVID BIER Openmarket.org: Anti-Immigration Group FAIR: Market Is Like “A Mob Without Reason, Irrational and Immoral” Last week, Ira Mehlman of the Federation for American Immigration Reform (FAIR) denounced CEI’s position on immigration. Mehlman argued new foreign workers would degrade wages and make America poorer. I responded by noting opposition on such grounds is not anti-immigrant, but fundamentally anti-people. “If fewer workers means more prosperity, then wouldn’t no workers be the ultimate prosperity?” I asked. “When have we limited the workforce enough?” > Read the full commentary on Openmarket.org > Interview David Bier

More in the news... Do as Reagan Did, And Free Credit Unions Cuts loom over research and industry following Obama re-election CEI’s Battered Business Bureau: The Week In Regulation

Featuring CEI's Wayne Crews Join The Atlantic on December 10 for an afternoon of panel discussions and keynote interviews focused on restoring America’s competitive edge in trade and high-wage job creation. The program will examine how the regulatory environment impacts American competitiveness by showcasing examples of effective as well as problematic federal and state policies, and studying how they can be shaped to best encourage business investment and growth. Join us to assess strategies for how best to revitalize a U.S. economy under stress at home and globally.

CEI is a non-profit, non-partisan public policy group dedicated to the principles of free enterprise and limited government.  For more information about CEI, please visit our website, cei.org, and blogs, Globalwarming.org and OpenMarket.org.  Follow CEI on Twitter! Twitter.com/ceidotorg.