Wednesday, February 25, 2009

A couple other points re: Obama

I liked that he appeared willing to take on the agricultural subsidies that are a waste of money and prop up prices, protect "special" industries and keep competition from really working. More on that here. But we'll see. Almost everyone agrees those are bad, at least in theory, but no one really wants to take them on come budget time.

Second, there is an omnibus spending package to fund the budget for the rest of the year for things like NASA and what not that the Congress just sent him. Bush & Congress couldn't agree on it, since Bush - maybe for the first time ever in actual practice - wanted to freeze domestic spending. The bill includes an 8.5% uptick in spending currently. Enjoy the squeeling pigs here.

At a time when businesses everywhere are slashing prices and jobs and households are doing with less with less, is it unreasonable to expect that the government could at the very least keep spending pegged at the inflation rate of 3 or so percent?

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