After spending years criticizing Fannie and Freddie for getting involved with non-traditional mortgages, the House Committee yesterday criticized the new Consumer Protection Agency for trying to limit non-traditional mortgages. Let us not forget that non-traditional mortgages severely ruined the American Dream for many people.
However, I have long been against Federal Farm Subsidies, but been dubious that anything would be done about it because nothing else unites Democrat and Republican members of the House like charity for farmers.
However, I had a small hope that tea party GOP members might provide a small window of opportunity to address farm subsidies. That hope is dashed with this little piece of news that the fox is in the hen house.
It turns out that Representative Stephen Fincher of Tennessee (GOP from Frog Jump, Tennessee - rural towns in the South have much better names than rural towns in the North) is a recipient of millions of dollars of farm subsidies. He has not only voted for bills that would increase those subsidies while voting to cut spending elsewhere to pay for those increases, he is a leading proponent of cutting $20 bn from the food stamp program which is also in the Agricultural Bill that allocates money to farm subsidies. He clearly favors charity for himself over those who are in need.
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