Looks like the line is forming in Washington, D.C. for more bailouts financed by your tax dollars. Latest industry to get in the line with its hands out for a share of your money is the enthanol industry. Just a few months ago, the ethanol folks were in high cotton, so to speak, thanks to $4 a gallon gas.
But since Congress allowed the off-shore oil and natural gas drilling ban to expire, prices have been plunging steadily downward and demand for ethanol is dropping. So of course, the ethanol folks think taxpayers have an oblgation to write them a big check to help them out.
I learned about this latest bailout proposal over at a brand new web site, BeyondBailouts.org, that is a joint effort of the National Taxpayers Union (NTU) and the Competitive Enterprise Institute (CEI). Since it appears bailouts are going to be a constant issue in the new Congress and presidential administration, BeyondBailouts.org is a must-read web resource.
