Hello everybody out there in farm country. This radio commentary is brought to you by the National Corn Growers Association, CropLife America, and Renewable Fuels Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.
And now for today’s commentary –
The House of Representatives last Friday passed a huge spending bill. It is a liberal spending bonanza. If we give enough money, that should buy votes. The bill passed 220-213. Not one Republican vote. You can argue that the infrastructure bill that President Biden signed into law was bipartisan. But this entitlement legislation is not. Here is where the money goes: enhanced child allowances, earned income tax credit money, childcare entitlements, universal pre-kindergarten, and a lot more.
Proponents of the bill say the spending will be only $2 trillion over 10 years. That’s because much of this big spending is only authorized for 1 or 2 or 3 years. They wrote it that way to make it look cheap. But it won’t be cheap because once they start giving something away, they can’t stop. Senator Joe Manchin (Democrat) calls it “a shell game of budget gimmicks.”
They tell us the cost of the bill over 10 years would total about $2 trillion. Independent analysts put the cost at nearly $5 trillion over a decade. And it will cost that much because our government will not shut down the money faucet. The legislation does increase some taxes, but that will not even pay for half the cost.
Fortunately, the bill is not law yet. It passed the House and now goes to the Senate. Without question the Senate will change it. Some of the spending could be reduced. Keep in mind – the Senate is evenly split between Democrats and Republicans. With changes it must go back to the House for a final vote. With all the concerns about inflation, it is possible the bill will never survive. Inflation is at 6.2% – the highest in 30 years.
Turn the page and let’s focus on something very positive. Thanksgiving – in spite of our battle with COVID-19 and political fights – we have a lot to be thankful for. We can be grateful that we live in the USA. We know the US is not perfect, but people from all over the world want to come here. This is the land of opportunity, and they know it. That’s why they take so much risk to get across our border legally and illegally. Thanksgiving makes me reflect – my father and mother and sisters on the farm at our turkey dinner. Let’s grip hands and thank God for another Thanksgiving.
Until next week, this is John Block reporting from Washington, D.C. If you would like to review my radio shows going back more than 20 years, just go on-line to www.johnblockreports.com.