Home > Politics > Political Punch
Political Punch
Power, pop, and probings from ABC News Senior White House Correspondent Jake Tapper

« Previous | Main | Next »

The Ag Waste PEBO Referred to Today

November 25, 2008 3:40 PM

In his budget hawk presser today in which he tapped into his inner McCain, PEBO pledged to go through the federal budget -- page by page, line by line -- to eliminate wasteful government programs.

Mr. Obama refrained from specificity except in one instance.

"Let me just give you one example of what I'm talking about," he said. "There's a report today that, from 2003 to 2006, millionaire farmers received $49 million in crop subsidies even though they were earning more than the $2.5 million cutoff for such subsidies. Now, if this is true -- and this was just a report this morning -- but if it's true, it is a prime example of the kind of waste that I intend to end as president."

The President-to-be was referring to a Government Accountability Office study indicating that between 2003 and 2006, 2,702 farmers received subsidies worth $49 million even though they earned more than the $2.5 million gross income cutoff.

Among them, per GAO:

* A founder and former executive of an insurance company who earned more than $300,000;

* An individual with ownership interest in a professional sports franchise, who received more than $200,000;

* A top executive of a major financial services firm; and

* 9 individuals who reside outside of the United States -- in Hong Kong, Saudi Arabia, and the United Kingdom, for example.

You can read more about it in the GAO Report HERE.

-- jpt

November 25, 2008 | Permalink | Share | User Comments (4)

User Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

Moder8, many of the ag subsidies were part of the infamous farm bill passed earlier this year, which Bush vetoed but Congress overrode his veto. On that bill, which McCain voted against, Obama pulled his patented "voting present" strategy, after a fashion. He curried favor with agribusiness in places like Iowa by coming out in favor of the farm bill, issuing a statement that said, in part, ""I applaud the Senate's passage today of the Farm Bill, which will provide America's hard-working farmers and ranchers with more support and more predictability... By opposing the bill, President Bush and John McCain are saying no to America's farmers and ranchers, no to energy independence, no to the environment, and no to millions of hungry people." So did Obama actually take a stand and vote for the bill--nope, he did not vote on it either way.

Posted by: moderate | Nov 25, 2008 10:21:20 PM

First, you IOWAns really owe the world an apology for putting a PEBO PEBO. Now that he will cut your farm income. I suppose you all make more than 2.5 millions per year.

Second, he was talking a total of $49 million in 3 years in the Federal budget, it's akin to his solution for Foreign Oil Independence by putting 1 million electric hybrid cars on the Street in 10 years.

Posted by: fat cat | Nov 25, 2008 6:01:32 PM

Now the who and the what and the when that seems outside the law is known. How about the why and the indictment.

Posted by: smith | Nov 25, 2008 4:09:18 PM

I hope PEBO makes good on his promise about getting rid of waste (i.e. subsidies and earmarks) Unfortunately, many of the ag subsidies that should be reviewed were attached to broader legislation that was passed by Congress while PEBO was a senator. It would be interesting to see what his voting record was on Ag subsidies prior to becoming PE.

Posted by: moder8 | Nov 25, 2008 3:56:53 PM

Post a comment





 

POLITICAL VIDEOS