News Story of the Day: Earlier this week, the U.S. Department of Agriculture (USDA) announced that it would be rolling out its $12 billion bailout to farmers on September 4, beginning with $4.7 billion in compensation.
It’s a foolish policy, but what makes it worse is that it is straight out of the playbook of former President Franklin Delano Roosevelt, just somewhat modified for today’s trade woes.
Here is an excerpt from a CNBC piece:
“The government plans to purchase up to nearly $85 million in dairy products in the food purchase program and up to nearly $560 million in pork products. There’s also plans to buy nearly $93 million in apples, about $55.6 million in oranges, as well as more than $100 million in various nuts.”
So, the government is purchasing agricultural products to help farmers.
Yeesh.
The only thing missing is the state slaughtering pigs.
Chart of the Day: In a follow-up to an earlier piece, here is a chart representing the ballooning trade deficit, which has jumped to a five-month high. It looks like President Donald Trump’s protectionist policies aren’t working after all.
Illustration of the Day: Don’t show this to Alexandria Ocasio-Cortez! She’ll accuse you of being sexist.
Quote of the Day: Labor Day is upon us, so now it would be an opportune time for a great quote about unions from the legend Henry Hazlitt:
“The net overall effect of unions and of union policy has been to exclude non-union members, to drive them into less attractive and lower-paid jobs, to distort the structure and balance of production, to increase inflation, to reduce productivity, to discourage new investment, to retard capital formation, and hence to reduce the total production for all of us and the total real wages of the whole body of workers below what it would otherwise have been. It is altogether probable that even the highest real wages now received by members of strong unions are lower than such wages would have been if the unions and their historic policies had never existed.”
Tweet of the Day: CNN continues to get called out for their lies, but the alleged news network is putting its fingers in their ears and yelling lalalalala.
You reported in a story sourced to Lanny Davis that Lanny Davis refused to comment on the story. That was a lie. And not only did you deliberately lie to push an agenda, you have thus far refused to even acknowledge the lie, let alone apologize for it. https://t.co/LR21bPgeu6
— Sean Davis (@seanmdav) August 30, 2018
Video of the Day: Yikes! What happened to principled conservatives who love the free market? And, what happened to principled conservatives who championed wealth creation and appreciated billionaires? Tucker Carlson fails big league on this one:
Jeff Bezos is the richest man in the world. Many of his employees are so poor, you’re paying their welfare benefits. And he’s not the only tech billionaire offloading his payroll costs onto taxpayers. This is an indefensible scam. Why is only Bernie talking about it? pic.twitter.com/PdXBfQsHsq
— Tucker Carlson (@TuckerCarlson) August 31, 2018
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