In the piece he assess which farm bill programs are actually at risk of losing funding, and demonstrates that the actual harm is minimal to none. Indeed total annual expenditures on all of the “under threat” programs account for less than one percent of total farm bill spending.
Smith explains that Congress should not be steam-rolled into a new, potentially expensive farm bill based minor, short-term interruptions.
He also offers a reminder about how the farm bill reached its current impasse:
"When the House leadership offered an extension of the 2008 farm bill in late July, coupled with the provision of funding for three livestock disaster aid programs, the farm, nutrition program, and environmental lobbies all combined to unanimously reject that option. So the moderately irritating hair-shirt interruptions in a very small number of programs about which farm groups are now complaining is a shirt they have made for themselves."
Vincent H. Smith is a visiting scholar at AEI and an agricultural economist at Montana State University. Learn more about AEI’s American Boondoggle: Fixing the 2012 Farm Bill project at www.AmericanBoondoggle.com.
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The Shadow Financial Regulatory Committee (SFRC) is a group of publicly recognized independent experts on the financial services industry — including experts in banking, insurance, and securities — who meet regularly to study and critique regulatory policies affecting this sector of the economy.
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At a Capitol Hill luncheon event, Westchester County Executive, Robert Astorino, will present his first-hand experience with HUD's demands to sue localities over common zoning regulations in an effort to dismantle local zoning as it is known today.
AEI's Marilyn Ware Center for Security Studies will host General Mark Welsh III, Chief of Staff of the US Air Force for the concluding session of its series with the Joint Chiefs of Staff.
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AEI’s Jeffrey Eisenach will argue in favor of a generic antitrust enforcement model with primary enforcement by the FTC and Jonathan Baker of American University will maintain that an industry-specific regulator like the FCC is needed to work with antitrust enforcers to shape competition in the broadband industry. The debate will be moderated by US Court of Appeals Judge Stephen Williams.