“Completely Wasteful”: Steven Rattner Slams Govt. Support for Corn Ethanol

Why not get rid of most if not all subsidies? Because the subsidies purchase votes from those who benefit from the subsidies. Ethanol should be out; oil and gas subsidies should be out; subsidies to GE should be out; agricultural subsidies in general should be out. Large farm owners
are still being paid not to produce crops; it's called the Soil Bank. My father, who was a farmer, told me about it years ago, and he thought it was ridiculous that he could be paid NOT to plant crops. That's a hold over from the Roosevelt administration, and we still have it. Get rid of most subsidies, as we cannot afford them. State legislatures are keeping subsidies and cutting public education, sacrificing our children's futures for votes from the industries that benefit from subsidies.

I am a corn farmer. Unlike most other farmers, I do not like gov't subsidies in anything especially agriculture. I believe in capitalism and competition. Subsidies distort the true market system to make them less efficient. My standing since day one (including other things such as wind power) is if it needs support to be competitive in the market, its a waste of money.
Polititians that are flip floppers on issues like this care about one thing, getting re-elected. Those are the scum who need to get voted out of office.

Simple remove the subsidy...now!

People need to understand that ANYONE in washington does not represent you. Washington represents Washington. Period. True for the Left, Right, and Center.

In general it cost the consumer dearly, just another bad idea from our government, Ethanol is Alcohol, it cost more at the pump, you get less gas mileage, so you have to buy more of it, it damages your cars motor in time, by eating the gasket in the motor up & it evaporates in time so you buy more. Not counting what it cost you at the super market on anything that uses grain products to be produced. SO THE CONSUMER LOSES ALL AROUND but its OK with the government to stick it to the people.

This is just one of many subsidies that need to be phased out. The original reason for ethanol was as a substitute for methyl t-butyl ether, which has the drawback of increasing the solubility of gasoline into water, (the two normally don't mix at all). MTBE was used to decrease CO emissions in cold carbureted engines until the O2 sensors kicked in. Carburetors are gone, and O2 sensors are self-heating now, so the emissions benefit has all but disappeared, but EPA still demands the use of oxygenated fuel, and ethanol fits the bill. But since the energy benefit of ethanol is minimal (takes almost as much energy to make as it produces), and since it creates food price inflation, it's time to put this old dog to sleep.

Mitch McConnell said yesterday that he could not support cutting the ethanol subsidy, because that amounts to a tax increase. What kind of tortured logic does it take to equate ending corporate welfare with a tax increase.

it's a joke and a complete waste of tax dollars...

Government policy does not have to make economic sense or even be irrational. By and large, it is to buy votes of selected groups. Nothing in this "debate" can convince me otherwise.

They will never cut anything no matter how outlandish the criteria.. Senators and Congressmen are paid back in reelection donations.. 10% is the norm.. That's why there is thousands upon thousands of earmarks they insist on supporting. They will never give up there 10%.. They will cut your social security and Medicaid before they give up there kickbacks..

M.P.G. negating the so called environmental benfit. Brazil uses sugar cane to produce ethanol and since cane is a grass it requires less input vis a vis energy to produce thereby netting out a positive energy return albeit emission reduction still debatable.This is what happens when you let "emotion" rule instead of good Scientific Method!! These idiots are hurting the very people they claim to be helping in higher food costs. I wonder if we had an intelligent electorate instead of an illiterate tatoo,piercing,electronic loving tribal mentality, how far junk like this would be foisted on the public!

The even greater stupidity of ethanol is the one fact that nobody has yet to mention! Ethanol is inefficient as fuel compared to gasoline. It is like a bartender watering down your drink. It does not have the same kick. It dcreases your gas milage by 10% which means more frequent trips to the gas station and more of your money wasted for this scam..

There are other costs in damage to engines especially 2 stroke, and airplane engines and the rubber and plastic parts on them, the decrease in fuel economy is important too. He said it has lower octane which is wrong, I believe he meant that it has lower energy, which makes it provide less MPG.

Getting rid of the mandate for ethanol in gas is a good idea and now is the time for it.

If you have to subsidize it, it isn't worth it. Especially when my tax dollars are involved.

bottom line...if the government is involved in it, it doesn't work.

Who"s idea was this, feeding our food to cars and trucks, it"s like killing the bufflo to starv the indians. Somebody should watch those people.

That land should be used for FOOD not some "Greenie" mandate.
Government is a bad manager of anything if depended upon.
Alternative energy is fine but let the free enterprise system handle it.
When it is profitable it will happen.

End corn ethanol subsidies, but also end oil subsidies too. Lets get a real level playing field. But of couse the huge oil companies have the Repubs and Demos in thier pockets! The US spends humdreds of billions of our money yearly to protect oil supplies and oil shipping, most of this by the defense department. That alone would do a lot for our deficit, and encourage alternative sources of fuel! I know the Demos won't do this, but at least the "in name only" Republicans should support the free market more!

Is this guy trying to make a name for himself. Or what? Ethanol subsidey is being cut, the Senate has agreed, both Republicans and Democrats that will not gut the Ethanol subsidey but cut it dramatically. It was a consession by the Republicans trying to cut spending, but Democrats don't want to cut any of their subsidies. Personally, I think all subsidies should be cut and let private business survive on their own. If they got a product that works and is profitable they will make millions, but we, the taxpayer, do not need to support failed projects because of political contributions to the party of their choice. Biggest joke of a subsidy is the one for GE to produce wind turbines (nothing against wind energy) and they manufacture the parts in China. Our tax money at work for another country.

obama is cornholing us