Guess Energy Secretary Sam Bodman's hint about dropping the 54-cent-per-gallon tariff for ethanol was for naught. The massive budget that President Bush presented to Congress today (it's a record $3.1 trillion) does not do away with the tariff, yet. It's set to expire at the end of 2009, and Reuters says that a DOE spokeswoman said the issue will be dealt with later this year. For now, the domestic ethanol industry remains resolutely protected by the feds.

The rest of the budget loves military spending while stripping $196 billion over five years Medicare and Medicaid. Meanwhile, the true cost of the wars in Iraq and Afghanistan were not included in the budget, as White House press secretary Dana Perino admitted to reporters. The budget keeps Bush's bribes tax cuts and the president called it a "a good, solid budget." You can read the entire 3,000-page budget here, if you're so inclined.

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[Source: Reuters]

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