The price-support level calculated by 1940s standards [and mandated by the government today] would account for inflation but not productivity gains, such as robotic milking parlors. The result could be a support price of roughly $40 for every hundred pounds of milk, the National Milk Producers Federation estimated.
Welcome to Obamacare.
Who needs bread and circuses when we have mammograms and milk?
In considering the fiscal cliff- as opposed to the milk cliff, the abortion cliff, the debt ceiling cliff, the mortgage cliff, the student loan cliff, the automaker cliff, the healthcare cliff, the War on Women cliff, or the Oh!-My-Gosh!-I-Might-Not-Win-Reelection cliff- the Senate, I guess, has finally figured out that they have to read bills to see what’s in them. They are aghast, apparently, that these bills might not accelerate spending as fast as they had originally anticipated.
So they did what any US Senator would do when trying to control spending: They sped-up the pace of spending.
Phew. That was close.
The Senate raised taxes, raised spending and did it all in the name of fighting the out-of-control deficit that has seen the country mired in fiscal crisis after fiscal crisis with the economy limping along in tow.
In order to cut spending in DC, you see, the wonks have to raise spending. In order to make the economy strong, we first have to weaken it. And second, and third and….
“We’ve been whupped in this round,” said US House Rep Steven LaTourette told CNN according to the Chicago Tribune. "I think there's a growing sense that, nobody's singing Kenny Rogers, but you do have to know when to hold 'em and when to fold 'em. We've been beaten [in] this fight."
As I have said previously: We came, we saw, we surrended.While I'm tempted to observe, like John Kerry did when being beaten by Geo. Bush, "I can't believe I'm losing to this idiot," I'm not sure that we are losing to AN idiot- Barack Obama- so much as to OUR OWN idiots, Congressional Republicans.
Still, some conservatives in the House of Representatives however isn’t as convinced as the Senate or Rep LaTourette that the best way of cutting federal spending is by giving the federal government more pocket-money.
“There’s not a lot of support for the bill as is. I personally hate it,” said Representative John Campbell, Republican of California according to the New York Times. “The speaker, the day after the election, said we would give on taxes, and we have, but we wanted spending cuts. This bill has spending increases. Are you kidding me?”
Ahem, no unfortunately they aren’t kidding you.
The Senate doesn’t do gag jokes, even if Obama does (see budget vote, year: any).
And unlike the cartoon-variety adventure story, this one lacks laughs and the heroine- that’s you and I- gets run over by the choo-choo at the end.
But that’s OK because riding in the train are all the US Senators- with a few honorable exceptions- feasting on champagne and pork sausages.
I think one of those exceptions will be the next Republican nominee for president.
Now that’s funny.
Even without the floppy ears.
Today, at 11:20 AM PT: Get the Market Movements in Advance: William's Edge Webinar for October 31st, 2014 | John Ransom
Today, at 11:20 AM PT: Get the Market Movements in Advance; Williams Edge Webinar for October 29th, 2014 | John Ransom