Under Pressure to Reduce Deficit, Congress Tees Up Year-End Spending Spree

Forget all about the $15 TRILLION the U.S. Government owes most of the world, now they have a full treasure trove of I.O.U.'S that they want to spend by the end of the year.

My favorite color is red, I believe it's safe to say that is the Government's favorite color too. They could spray paint D.C. with red paint and never run out of money.

Lawmakers are poised to spend $120 billion or so to renew a Social Security tax cut that averaged just under $1,000 per household this year. They're ready to commit up to $50 billion more to continue unemployment benefits to people out of work for more than half a year.

They just absolutely do not know when to stop, Democrats and Republicans.

The chairmen and senior minority members of the Senate and House agriculture committees tried to add a five-year farm bill onto a deficit panel package that never came together. They promised "reforms" that would end much-criticized direct subsidy payments to Southern rice and cotton growers whether they farm or not.

But instead of banking the nearly $50 billion in savings, farm-state lawmakers maneuvered to channel much of the money to a new subsidy for locking in four-decade-high revenues for corn and soybean growers in the Midwest.

Republicans insist that extending the Social Security tax cut and jobless benefits for the long-term unemployed must be paid for through cuts to other programs or finding other non-tax sources of money for them.But using any such arrangements means they're no longer available for cutting deficits.

The White House, after saying all fall that Obama's jobs agenda must be paid for with tax increases on high-income earners, appears willing to simply pad the nation's $15 trillion national debt instead of finding offsetting cuts.

I am thoroughly convinced that neither side of the isle wants to change the crash course type of spending that has become the norm .

Both Dems and the GOP are absolutely scared of a Third Party making a serious run in 2012. I hope someone steps up to bat to take these inside-the beltway mentality zombies a run for their money .

YOURS IN LIBERTY,

Bob Yeager