Friday, December 12, 2014

The House Spending Bill Redux

The GOP dominated House passed a spending bill that will avoid a government shutdown.  This editorial in the NYT suggests that we might be better off if the government did shut down.  It is pretty clear that government works primarily for those who fund political campaigns.  Big money has been going to PACs which work outside of the two major parties.  The bill increases the amount that large contributors can make directly to political parties.  The bill also cuts funding for government agencies such as the EPA and the IRS which enforces tax collection.  Wall Street also got its finger into the pie.  Key areas of the Dodd-Frank bill which required banks to separate risky derivative trading from its government protected banking operations were neutered with the eager participation of both political parties.  We have created an electoral system that is increasingly dependent upon campaign contributions to fund the escalating expense of running for political office.  It should not be surprising to witness the results from that system. 

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