Tuesday, November 20, 2012

Cows Flee California

Cows, Hogs at the Trough--it's all a real barnyard tale--

RealClearMarkets - Cows Flee California Seeking a Better Economic Climate: "A few years ago, the Office of Management and Budget assessed federal dairy price support programs as part of a broad initiative to gauge the effectiveness of over 1,000 government programs. It found that the dairy program had not demonstrated results, has design flaws that limit its effectiveness, and distorts trade in a way that puts the U.S. in violation of World Trade Organization rules. What action was taken as a result of this negative report? None, of course. If you go to ExpectMore.gov to read the program assessment, a note pops up that says, "This is historical material, ‘frozen in time.' The web site is no longer updated and links to external web sites and some internal pages will not work." That's just how special-interest democracy works. So bon voyage, intrepid cows. Yet another trillion-dollar farm bill is being cobbled together in Washington as we speak. And the odds that any deficit producing, wealth-destroying, consumer-shafting dairy programs will be phased out, allowing the dairy industry to restructure itself on rational lines, are about as good as that of the Supreme Court waking up one morning and ruling that the Constitution never granted Congress the power to set milk prices in the first place."


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