CEI Today: Farm bill reform, Europe's troubles compared to America's


Openmarket.org: Farm Bill Needs Real Reform, Not New Entitlements, Say Free-Market Groups


CEI joined with 10 other free-market groups in a letter today urging Congress to take on real reform of agricultural subsidies in the next farm bill and to resist attempts for new entitlements. The letter noted that farm businesses are doing quite even in this recession, with net income at $98 billion. With negotiations on reauthorization of the farm bill underway, it’s essential that Congress review federal agricultural policies that distort market decisions. The letter pointed out some specific areas that deserve attention.

The letter noted that, given the strength of the agricultural sector and the “glaring weakness of the federal budget,” it is essential for Congress to reform agricultural policy. And, the letter urged, there must be “full and open legislative debate on Farm Bill reauthorization.” 
> Read the letter on CEI.org

> Interview Fran Smith



European Lessons for America

George Will warns that America’s system of competitive federalism is threatened by our own “Greeces.” (“In Illinois the bills are coming due,” April 27). Europe has been brought to its knees by the moral hazard from guaranteeing the debt of imprudent entities. Could a default in Illinois create a similar collapse here? Not in the same way.

States are allowed fiscal autonomy and are expected to suffer the consequences of their own fiscal imprudence. Direct federal bailouts are unlikely, but they are not the real threat.  The risk Illinois raises for America is that the Federal Reserve may decide that states are “too big to fail” and move to ensure that failing states can continue to borrow and carry on their non-sustainable fiscal and regulatory policies.  > Read more at Openmarket.org

>Interview Fred L. Smith, Jr.

> Follow Fred L. Smith, Jr. on Twitter



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