"The House passed a pair of bills Wednesday night aimed at combating the nationwide baby formula shortage as Democrats scramble to get more supplies on store shelves. The House voted 414-9 to approve a measure that would allow more formula to be purchased with money from a federal program that aids low-income women, infants and children. In a more partisan 231-192 vote, the House passed a bill that would send $28 million to the Food and Drug Administration to help boost formula supply and prevent future shortages. Only 12 Republicans voted for that measure. Both bills now head to the Senate.
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Republicans voting against the bill bashed Biden for not doing more. Just what he, or Congress should do was not remarked upon.
This isn't a failure of politics. It's a failure of Capitalism. The repeal of anti trust laws in the 1980's, did two things. It allowed companies to buy back their own stocks, which they did in an orgy like fashion, with the tax cuts they were given, and it allowed these companies to merge, which they have also done in an orgy like fashion, which reduced competition, consolidated supply, and created monopolies across the board in everything from energy, banking, media, telecommunications, and yes food, including baby formula.
What is happening in Washington is a farce at best, and criminal at worse. If they were actually going to do anything, that means anything. They would reinstate anti trust laws, make it a crime once again for companies to buy back their own stock, and break up large megacorps to create more competition in the market.
You know, like the Capitalists messiah Adam Smith instructed them in his book Wealth of Nations.
For those who are not fully aware of what true Capitalism is. It is 1000 mom and pop stores. Not Walmart.
It's independent community banks. Not Wells Fargo.
It's 3500 independently owned radio, television, and News Papers. Not four megacorps that own 3500 radio, television stations, and news papers.
Or 4 companies that own all of the baby formula production.