President Bush held a press conference today, to quite justifiably blast the Democratic Congress for doing nothing to head off a recession or jumpstart the economy. Not to be too cynical, but of course they aren't--the worse things get, the better chance they have for a big win in the November elections.
The president reserved special mention for the bloated "compromise" farm bill, which continues big subsidies to wealthy corporate farmers and carries a massive price tag. Ag Secretary Ed Schaefer also blasted the bill in meetings with congressmen and senators and their staff negotiators. The clear implication is that Bush will veto the bill, if it comes to his desk in its present form. It would have been a much stronger presentation if he'd actually said that, but he did leave the clear implication.
The real problem is that the only "compromise" in the bill is to add enough money to take care of the pet projects both the House and Senate ag committees want, without really changing anything in the way agriculture operates. Big corporate interests like Archer Daniels Midland have poured enough millions into congressional campaign coffers to insure that no real reform of the system will pass.
This should result in a farm bill veto, and possibly a look at what a real Farm Bill should contain. More likely, it will lead to an extension of the present law until after the November election.
In the overall scheme of things, the Farm Bill is a very minor player on the the Congressional and presidential agenda, and its brief moment in the sun today. There are much bigger fish to fry, as they dispatch this controversy by doing nothing.
Mark my words.
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