To the People

The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or TO THE PEOPLE.

Wednesday, September 12, 2007

Congress Ate My Steak

I was about to order the prime steak at my favorite local restaurant when I noticed the new price: $46. That is up from $36 the last time I ordered it a few months ago. The reason: beef prices are skyrocketing in tandem with corn prices, which are skyrocketing because of growing demand for ethanol. Corn prices increased 80% in 2006 alone and might double this year.

The Energy Bill of 2005, through a combination of subsidies, tariffs and mandates, caused the massive food inflation that is occurring. Congress didn't like $3/gallon gas so they created $3/gallon milk. Oh, and they also made steak a luxury food again.

Labels: , ,