Interesting observations by Robert Bryce in U.S. News and World Report today. Bryce takes a look at the budget of the SEC, which is $906 million in 2008 and slated to climb just barely to $913 million in 2009. The number of SEC Enforcement personnel, however, is budgeted to decline in 2009, from 1,209 this year to 1,177 in 2009.
Bryce also notes that overall, the SEC expects to have 3,771 employees next year, whereas the Smithsonian Institution budget for 2009 includes funding for 4,324 employees. He states:
That’s not meant as a slap at the Smithsonian. It houses a myriad of the nation’s most treasured objects. But the SEC actually guards the nation’s treasure. And yet, Congress treats it like a bastard stepchild. Indeed, Congress doles out more than five times as much money for corn subsidies ($4.9 billion in 2006, the most recent year for which data are available) as it does for the SEC.