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Taxpayer Funded SNAP, CACFP, and What?

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The problem with so call conservative politicians is that they still think government is the answer. Congressman Paul Ryan does a solid job pointing out our government welfare madness but in a recent report he offers up little in terms of free market solutions. The first place for so called government reformers should be to look in the mirror. The Cato Institute’s Chris Edwards writes:

The House Budget Committee chaired by Congressman Raul Ryan released a 204-page report on federal welfare programs Monday. It provides useful discussions of 92 programs that cost taxpayers $799 billion a year.

The report drives home how immense the federal welfare state has become. You’ve probably heard of EITC, TANF, LIHEAP, and SNAP, but how about CCDF, WIA, SSBG, NSLP, SBP, CACFP, HOME, HAG, and CDBG? These are all multibillion dollar welfare programs that you as a taxpayer are funding.

The Washington Post called the Ryan report a “blistering” and “stinging” critique, but it is far from that. Indeed, Ryan’s report is a centrist analysis of welfare, not a conservative or libertarian one. The report generally points out minor problems with programs based on the polite criticisms of federal auditors and liberal researchers. The report often omits fundamental critiques of programs offered by pro-market scholars and think tanks.

Ryan’s report has 48 pages on housing programs, for example, but does not ask basic questions such as whether there are market failures that justify any of the government’s housing interventions. The Manhattan Institute’s Howard Husock has written about how private markets are able to supply low-income housing and did so historically, but Ryan’s report does not address these basic questions.

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E.J. Smith - Your Survival Guy

Preparing your investments and family for when disaster strikes.
E.J. Smith is the Founder of YourSurvivalGuy.com, Managing Director at Richard C. Young & Co., Ltd., a Managing Editor of Richardcyoung.com, and Editor-in-Chief of Youngresearch.com. E.J. graduated from Babson College in Wellesley, Massachusetts, with a B.S. in finance and investments. In 1995, E.J. began his investment career at Fidelity Investments in Boston before joining Richard C. Young & Co., Ltd. in 1998. E.J. has trained at Sig Sauer Academy in Epping, NH, where he completed course-work in Practical and Defensive Handgun, Conceal Carry Pistol, Shotguns, Precision Scope Rifle and Kidnapping Prevention. E.J. plays a Yamaha Recording Custom drum set with Zilldjian cymbals. His first drum set was a 5-piece Slingerland with Zilldjians. He grew-up worshiping Neil Peart (RIP) of the band Rush, and loves the song Tom Sawyer—the name of his family’s boat, a Grady-White Canyon 306. He grew up in Mattapoisett, MA, an idyllic small town on the water near Cape Cod. He spends time in Newport, RI and Bartlett, NH—both as far away from Wall Street as one could mentally get. The Newport office is on a quiet, tree lined street not far from the harbor and the log cabin in Bartlett, NH, the “Live Free or Die” state, sits on the edge of the White Mountain National Forest. He enjoys spending time in Key West and Paris. Please get in touch with E.J. at ejsmith@youngresearch.com. Sign up here to receive all the best content from Richardcyoung.com each week.