On Tue, 7 Mar 1995 07:16:02 EST, 
Dale Wharton  <[EMAIL PROTECTED]> wrote:

>SOCIALISM FOR THE RICH
>
>  According to the February 27 issue of Business
>Week, the latest estimate of the net tab for the
>Savings and Loan bailout comes to $150 billion.
>  By comparison, the U.S. government spent just $17
>billion last year for family support, $10 billion
>for farm price supports, and $7 billion for child
>nutrition.
>  It appears that in the U.S., as in Canada, there
>is socialism for the rich and capitalism for the
>poor.

I would agree that the S&L bailout is not money well spent, but then most 
Americans (except those whose deposits were guaranteed by the Federal 
Savings and Loan Insurance Corporation) would likely also agree.  However, 
the S&L bailout is a once-only expenditure (though there is no guarantee 
that something like it won't happen again) whereas dependent child and 
family costs, and farm price supports, go on and on and on.

I would also agree that more money should perhaps have been spent on child 
nutrition and family support.  However, I'm not sure of what Business 
Week's numbers mean.  According to the Economist (Feb. 4, 1995) 14 million 
Americans currently qualify under the Aid to Families with Dependent 
Children (AFDC) program, and $22.5 billion is currently being spent on 
them.  Is Business Week talking about the same thing or something else?

I would not agree that more money should be spent on farm price supports.  
In the US, as in Canada, such supports do little more than maintain the 
inefficiency of the agricultural sector.  Many if not most of the farmers 
who benefit from them are in very different, and certainly much better, 
economic circumstances than AFDC recipients.

Ed Weick 

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