Wednesday, August 6, 2008

Lobbyists spend billions

The U.S. government's 2008 fiscal year budget is $3 trillion.  Should we be surprised that there are over 15,600 registered lobbyists trying to snatch a portion of this loot?  Who are the biggest lobbyists?  According to AIER writer Richard Ebeling, the biggest industry lobbyist is pharmaceuticals and health care, followed by insurance, computers, and electric utilities. The U.S. Chamber of Commerce is the largest individual lobbyist, having spent over $52 million in 2007 attempting to shape government to its advantage.  Southern Company, my former employer, ranks No. 10, with 2007 expenditures of $14,560,000.

Freddie Mac ($8.5 million) and Fannie Mae ($5.6 million) have seen their bribes pay handsomely, securing for themselves a government bailout.  Or more precisely, a bailout provided by taxpayers. 

The taxpayers, of course, are always the forgotten ones

No comments: