The Latest Bailout

First it was Bear Stearns. Then it was America's "underwater" homeowners. Now there is a new and even more costly bailout being considered in Washington, one which, while being completely unnecessary and counterproductive, has faced little opposition in Congress despite having a price tag of $300 billion.

What struggling group of Americans is Congress seeking to support with our tax dollars in its time of need? What group is struggling so mightily that its bailout legislation has received veto-proof support? The answer may surprise you -- America's farmers. Yes, that's right, the same farmers who have seen their income explode by 56% over the past two years due to rising demand for corn, soybeans, and other food staples that has pushed prices through the roof. The same farmers who are already rolling around in the dollars of American consumers who are faced with skyrocketing prices at the grocery store. The same...well, you get the picture. The new farm bill, which passed the House with a bipartisan veto-proof majority and is well on its way to a similar fate in the Senate, will grant renewed subsidies to the one group of Americans benefiting from the state of the economy.

Don't worry though, because our ever-responsible Congress has limited subsidies to only those farmers who really need it. After all, the Pelosi-Reid Congress was elected on a promise of reform and fiscal discipline regarding wasteful spending. To that noble end, they have set an upper income limit at which point a farmer is cut off from taxpayer funds. That limit: wait for it....$750,000. Yep, four zeroes. And that's not all. According to the Wall Street Journal, through fancy accounting, farmers can claim incomes of up to $2.5 million and still receive a nice little check from America's taxpayers.

The New Deal-era farm bill has been historically used to provide a safety net for family farms vulnerable to sudden swings in the economy and vital to America's food supply. Yet that safety net is clearly no longer needed, and family farms are not even receiving the bulk of the aid. Of course, some disaster relief money is necessary to protect farmers in truly difficult times. However, while the new farm bill does contain money specifically for the creation of such a disaster-relief fund, the majority of the $300 billion is devoted to unwarranted subsidizing of the booming industry for agricultural commodities, along with money earmarked for urban lawmakers and wary fiscal hawks in an effort to buy their votes.

Democrats in Congress, despite their hawkish rhetoric on spending, have many first-term members from farm districts to protect in the 2008 elections. The same is true of Republicans in Congress whose seats are already being threatened by legitimate challenges from conservative Democrats gearing up for November. Due to this electoral calculus, both parties have forsaken their promise of spending reform in favor of saving their collective ass by handing out taxpayer money to undeserving farmers in their districts.

Despite the bipartisan support for the farm bill, the ultimate responsibility for this monstrosity lies with Nancy Pelosi and Harry Reid, who are reneging on the promises that vaulted them to power in 2006. They are merely continuing the same type of irresponsibility with taxpayer money that turned voters off from Republicans two years ago. If this long primary season has taught us anything, its that a still-frustrated American electorate is yearning for real change. Yet while it is clear that the voters have spoken, as the farm bill weaving its way through Congress now shows, its is equally clear that our representatives in Congress continue to tune them out