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One Veto Threatened, One Threat Withdrawn
By Mark ImpomeniMay 13th 2008 10:00PM
Filed Under:ePresident Bush, Bush Administration, Breaking News, Economy, Budget
The White House issued a statement late today saying that President Bush has decided to veto the 2008 Farm Bill if it makes it to his desk in its current form and recommended that Congress pass a one-year extension of current farm policy to bridge the gap until the next Congress and Administration can consider another bill. Almost at the same, the White House said that the president would withdraw his threat to veto an bill containing a provision that would stop the government from filling the nation's Strategic Petroleum Reserve in a bid to increase oil supply on the world market and lower prices. Mr. Bush had earlier said that the provision would have no impact on gas prices.On the Farm Bill, the president said that he was "deeply disappointed" in the compromise legislation reached by the House and Senate. He cited high food prices and increasing farming incomes as his reasons for rejecting the package of incentives and subsidies for the nation's family and commercial farmers.
Today's farm economy is very strong and that is something to celebrate. It is also an appropriate time to better target subsidies and put forth real reform. Farm income is expected to exceed the 10-year average by fifty percent this year, yet Congress' bill asks American taxpayers to subsidize the incomes of married farmers who earn $1.5 million per year. I believe doing so at a time of record farm income is irresponsible and jeopardizes America's support for necessary farm programs.But any farm bill is popular legislation in Congress, more so in an election year, and the president's veto would seem to be an exercise in futility. Congress will almost certainly vote to override the president quickly.
It was the realization that a veto would be overridden that prompted the White House to reverse course on the Strategic Petroleum Reserve. Senate Republicans voted overwhelmingly for the underlying bill containing the controversial provision. Rather than be perceived to be holding back potential price lowering measure, the White House decided that discretion was the better part of valor. Still, the Administration maintains, correctly, that stopping shipments to the reserve will not have much of an impact at the gas pump.
"[The president] maintains his view that halting the filling of the reserve will not have a meaningful impact on oil prices or gas prices. The Senate made clear today that they want to attempt that measure. The president hopes that this vote on the [Strategic Petroleum Reserve] will not distract members of Congress from the things they could be doing that would actually make a difference for the future, like opening up new domestic supply in an environmentally sensitive way in ANWR [Arctic National Wildlife Refuge] and the OCS [Outer Continental Shelf]."The veto threat for the Farm Bill is in keeping with the Administration's last-year push to reestablish the president's image as a fiscally responsible steward of government. The president's decision to sign the 2002 Farm Bill drew waves of criticism from conservatives upset at what they viewed as an unnecessary Federal spending boondoggle. That was before the skyrocketing prices for commodities made the necessity of continuing Federal subsidies for farmers even less attractive to them. Ending shipments of oil to the reserve actually saves the government money, so it too can be viewed, optimistically, as a fiscally responsible decision. President Bush has few supporters left, and he appears bound and determined to go out of office with as many of them on his side as he can.
Recent Comments
(Page 1 of 1)ambsie11:39PMMay 13th 2008
A close examination of Obama's first campaign clouds the image he has cultivated throughout his political career: The man now running for president on a message of giving a voice to the voiceless first entered public office not by leveling the playing field, but by clearing it.
"Why say you're for a new tomorrow, then do old-style Chicago politics to remove legitimate candidates?" Askia said. "He talks about honor and democracy, but what honor is there in getting rid of every other candidate so you can run scot-free? Why not let the people decide?"
Barack Obama Thinks Babies Are Punishment
http://www.eyeblast.tv/Public/Video.aspx?rsrcID=2036
Steve12:17AMMay 14th 2008
Gas prices are high because Cheney/Bush's Texas oil buddies and OPEC are making megabucks by restricting supply. There's plenty of crude in the ground. These same guys created energy shortages in California and price hikes every spring by shutting down refineries for 'annual maintenance' etc. There hasn't been a new oil refinry built in years. Food prices are up due in large measure to the increased cost of farming and of getting goods to market which is directly linked to soaring fuel costs.
And Jennifer, I like the idea of Kathleen Sebelius as VP. Hillbilly would be busy trying to get him killed.
SAD DAY FOR AMERICA1:16AMMay 14th 2008
Obama has a call center in Gaza and he is receiving campaign donations from the Middle East. ANY CHANCE THAT OBAMA WILL RETURN HIS “HAMAS” MONEY? As long as Zbig Brezinski is Obama's foreign policy advisor, Obama will be losing the Jewish vote. Obama will have to explain his relationships with Edward Said and Rashid Khalidi as well. “FLIP FLOP” OBAMA.
Donna Brazile and Howard Dean must be so proud of their driving --- their bus is going right off the cliff!
OBAMA CAN SAY WHAT HE WANTS .. NOW ... BUT HE DOES NOT SUPPORT ISRAEL. HIS PATHETIC CRITICISM OF HILLARY'S STANCE ON WHAT THE U.S. WOULD DO IF IRAN ATTACKED ISRAEL MADE HIS FEELINGS VERY CLEAR. AS HIS PASTOR-MENTOR SAID --- HE IS A POLITICIAN!
WE CANNOT TRUST HIM!
GODBLESSAMERICA1:30AMMay 14th 2008
Watch tomorrow --- more superdelegates will be bought and paid for by Obama.
SUPERDELEGATES ARE ROBBING US OF OUR DEMOCRACY --- OUR RIGHT TO CHOSE THE CANDIDATE WE WANT.
Superdelegates = the end of democracy!
HILLARY 08
HILLARY for PRESIDENT1:30AMMay 14th 2008
Backstabber Dick Morris (former campaign consultant) is pushing for backstabber Bill Richardson to be Obamas VP -
How stupid can he get?
Richardson got all of 2% of the primary vote before he fell out.
NOW WE KNOW why he defected, why he betrayed the Clintons who helped him for years.
He is hoping to he Obama's VP.
dumbass idiot.
AMERICA1:34AMMay 14th 2008
Obama organized the greatest political movement this country has ever experienced, and that is just the beginning. BTW, the Wall Street Journal reported that Clinton received a 20 million donation toward his library from the muslims. And if we were to wipe out the 70 million people of Iran, first of all the oil would stop, the stock market would crash, and the Arabs would buy it all up for pennies. The arguments just don't wash.
HILLARY 2008!
Logan5:31AMMay 14th 2008
Wow, the inmates are running the asylum tonight, or at least on this post. The blog is about the farm bill, get that folks THE FARM BILL(s). Now I see why we have the current President and the three potentials waiting in the wings. You folks have the attention spans of tumbleweeds. Please read again, the blog is about the FARM BILL. Oy Vey. Considering some O these posts I'd rather talk to my armpit atleast it would be coherent. A call center in the Gaza, fight and the phones are manned by the 4 horsemen of the apocalypse who were seen last month in a thunderstorm cloud over Nevada, by the Bat-Boy from the Amazon, who won 1 million dollars on the penny slots. Geez, you folks are a little out there. More From Good Ole Logan
Sewell6:41AMMay 14th 2008
Look what is happening in Cuba. With a change in leadership, the people were given freedoms not allowed under Fidel. The People of Cuba will return that country to a shining star. When is the Government of the US going to take the embargo off Cuba and allow travel and trade?
Where is our Commerce Sec. Look at the markets that are opening. Look who is getting the trade, NO US
Hillary is a menance to the USA. A self absorbed women, I think, who would do ANYTHING, even letting Bill have his Bordelo at the White House again.
All the do is talk, talk, talk, talk, When do people listen.
Mark Impomeni6:42AMMay 14th 2008
Steve,
Oil prices are high because of increased demand, not a supply shortage. You are right about restricted supply, but wrong about the culprit. Oil supplies would be higher, and prices lower, if Democrats and environmentalists would allow the United States to produce more oil domestically for the market. ANWR, the Outer Continental Shelf, the Gulf of Mexico off of Florida, and the Bakken Formation combined could provide as much as 5 million barrels of crude a day. That would be a significant contribution to supply and would definitely impact prices.
You are right about refineries, too, but again wrong about the reason. No oil refineries have been built because of environmentalists and Democrats blocking projects or otherwise making the permitting process so time consuming and expensive that it's cheaper to transport refined oil from elsewhere than to refine it here. The existing refineries shut down in the spring to convert their operations from making heating oil to making gasoline. But they have to produce so many different types of clean burning fuels, some of which can't be shipped in the same pipelines, that it causes a bottleneck in gasoline supplies every summer. That also increases prices.
Lastly, you are onto something with food prices but again the reason for the increases alludes you. Food prices are up because of the increase in fuel costs for farming and transportation. But it is Democratic and environmentalists insistence on subsidies for ethanol production that have been the real driver of increased commodity prices. Demand for corn to produce ethanol, and collect the subsidy, has driven corn prices to record highs. Meanwhile, ethanol cannot be shipped in gas pipelines efficiently, further restricting fuel supplies and increasing prices. Because of the increased price of corn, everything derived from it has gone up in price as well. From corn syrup to cattle feed, there has been a ripple of increasing prices across the entire food market just because of the demand for corn.
Thanks for reading and commenting.
Sincerely,
Mark Impomeni
David S.1:37PMMay 14th 2008
I have no issue with some of the GOP's ideas to help with oil - build refineries? Sure, but we all know those are NIMBY (Not in my backyard) projects. Let's build them very near the homes of the House and Senate members who support them. Then we will see how much they love new refineries.
As to the drilling in ANWR, fine, but keep in mind it would take years to yield oil and my understanding is that oil would not just flow right to us. It would go right on the global market.
There is little that can be done in the short term to alleviate gasoline prices - drive less, use public transportation if you can, or buy a more fuel efficient vehicle. Both political parties have - and will continue to - pander on the issue, so take matters into your own hands.
Victor3:07PMMay 14th 2008
Barak "Titanic" Obama is the "CHANGE" man all right. He changes everything AFTER we find out about him:
FIRST no salute to flag - now Ayers wipe shoes with it
FIRST no flag pin - now wearing flag pin
FIRST cuban flag in campaign office wall - now proud American
FIRST anti-American racist - now reformed American
FIRST hates mothers race - now loves all white people
FIRST arab muslim heritige - now claims not related to them
FIRST attends racist church 20years - now disownes them
FIRST Rev. Jeremiah is mentor uncle - now hates the guy
FIRST Bill Ayers is his friend - now dont know guy
FIRST muslim Rezcko finances his campaign - now dont know the guy
FIRST goes on muslim Farrakan 1000man march - now he didnt do it
FIRST wife Michelle hates America - now proud American
FIRST Obama surrounded by radical friends - now in great denial
Jamie9:10AMMay 16th 2008
WHY CAN'T BUSH TELL US THE TRUTH,ADMIT THE ONLY REASON HE IS GOING TO SAUDI ARABIA IS TO PICK UP HIS COMMISSION FROM THEIR OIL GOUGING!
BRUCE2:32PMMay 19th 2008
BUSH AND MCBUSH ARE GOOD AT JOKES AND DANCING..BUT WE NEED A "REAL" LEADER TO TURN THIS COUNTRY AROUND..WE DON'T NEED MORE "CLOWNS" IN THE WHITE HOUSE..
dugie6:11PMMay 20th 2008
obama what a joke
an ignorant populace is the base of this communist style snake oil salesman
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Jennifer11:21PMMay 13th 2008
She can stay in the race as long as she wants. The DNC wont steal it away from Obama. By the way I'm Caucasian, and I'm not rich, nor am I the youth vote. My bf who supports him is a Republican who switched parties to an Independent to vote for him. It will be wrapped up in the last two contests with Obama winning Montana and South Dakota.
I hope he pickes Chuck Hagel or Kathleen Sebelius for his VP, and not Clinton. If he picks Clinton I will just not go to the polls, and my bf will switch back to a Republican.
Go Obama!!
OBAMA/HAGEL 08 OR OBAMA/SEBELIUS!!!