Both Left and Right rebelled Thursday afternoon against the “Cromnibus” — the combination continuing resolution/omnibus appropriations bill.
The problem wasn’t the spending levels, it was the non-spending items stuck into the must-pass bill without proper debate. Cromnibus was a fruit basket of special-interest provisions that K Street had been requesting for years.
If you read to the very end of the bill — page 1,602 of 1,603 — you would find a section titled “Modification of Treatment of Certain Health Organizations.”
This provision would provide protection from an Obamacare provision for exactly one entity: Blue Cross Blue Shield.
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Or look at page 1,153, which reauthorizes a federal agency whose job is to subsidize American-owned foreign businesses and the banks that finance them. The Overseas Private Investment Corporation extends taxpayer-backed loans and guarantees to U.S. companies when they set up shop overseas.
OPIC is naked corporate welfare. Subsidizing foreign businesses makes little economic sense (except for the subsidized businesses and their bankers who get to offload all risk to the taxpayer), and often it hurts the U.S. economy in direct ways. Consider a recent $6 million loan OPIC made to subsidize to subsidize a Brazilian granite facility. This harms U.S. granite quarries.
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The Left’s objections to Cromnibus focus on Section 630, beginning on page 615. This section creates a new loophole in federal bank regulation.
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Bills like Cromnibus, crafted in darkness and presented as must-pass legislation, allow the special interests to get what they want. A free and open debate on these issues is what the country needs.
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http://www.washingtonexaminer.com/c...with-special-interest-goodies/article/2557285