Steve King: End ethanol subsidies
That would be Rep. Steve King, a Republican who represents Iowa — and a lot of corn farmers. Eliot Spitzer challenges King on CNN’s In The Arena to take a position on ethanol subsidies, and King falls reliably on the side of fiscal conservatism. King makes the point that the subsidies were originally intended to start and mature the ethanol industry, a task that succeeded years ago, and that it should present no problem for Iowa farmers to remove supports on the industry now that it “can stand on its own”:
That sets up an interesting challenge to Mitt Romney, who publicly supported continuing ethanol subsidies. If an Iowa Republican can call for the end of ethanol price supports, why can’t a Republican presidential candidate do the same?
The rest of the interview consists of a debate over the debt ceiling. Spitzer makes the point that every Republican budget plan requires more borrowing in the short term, at least — so why not agree to raise the debt ceiling now, since it will have to go up under every single plan proposed? King responds at the end by saying that approving a debt ceiling increase first really means approving a debt ceiling increase only.