Wednesday, July 25, 2012

Barack Obama - #4068 - End the Ethanol Madness, Obama's Environmental Policies Have Put the Country's Food Supply at Risk - American Thimker (2) 'Levels Unseen' - U.S. Poverty Rate on Track to be Highest Since 1960's - The Blaze

Economists are warning that the current drought in the Corn Belt is going to result in higher food prices. That increase will hit consumers hard, reducing discretionary spending and further weakening an already fragile economy. With every scorching day that passes, the catastrophe mounts. But, as usual, the president is AWOL. There's not been one word from Obama about how to address a food crisis that everyone knows is coming. There have been Midwestern droughts from time immemorial, some of them (like those of the 1930s and 1956) as bad as or worse than present one. And no one -- not even a president who thinks government should get credit for everyone else's success -- can perform a rain dance and make the drought go away. But there is one thing the president can do to alleviate the effects of the drought: suspend the nation's ill-conceived ethanol program. That program now burns up 40% of the U.S. corn crop. If he had exercised leadership, Obama could already have taken action to suspend ethanol mandates. That action would have spared 320 million Americans higher food prices this fall and helped to rescue the economy from further decline.  Read more........

Levels Unseen - U.S. Poverty Rate on Track to be Highest Since 1960's - The Blaze - The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, according to the Associated Press, erasing gains from any sensible economic policies in recent decades. Census figures for 2011 will be released this fall in the critical weeks ahead of the November elections, and Tom Blumer at Newsbusters suspects the Associated Press’ lengthy write-up is being released now so it doesn’t have to be given as much attention right before the election. “It looks like the strategy is to get a comprehensive report out on how bad things are in July when few are paying attention, and then to give the official report short shrift when it arrives in mid-September,” he wrote. The Associated Press reportedly surveyed more than a dozen economists, think tanks and academics, both nonpartisan and those with known liberal or conservative leanings, and found a broad consensus: The official poverty rate will rise from 15.1 percent in 2010, climbing as high as 15.7 percent. Several predicted a more modest gain, but even a 0.1 percentage point increase would put poverty at the highest level since 1965.  Read more.......

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