Obama supports the Farm Bill

Small government types shouldn’t be surprised by Obama’s endorsement of the massive Farm Bill; if Obama does become President, don’t expect a small, efficient and less costly government.

American taxpayers about to get shafted again!!!

From The Club For Growth:

A vote in favor of the Farm Bill will be a permanent stain on the lawmaker’s record and on the 110th Congress. The bill’s terrible features include:

• Subsidies to millionaire farmers without a hard, meaningful cap on a farmer’s qualifying income
• The elimination of key limits on annual commodity payments
• Spending gimmicks that disguise over $10 billion in spending increases
• An increase in subsidy rates despite sky-high crop prices and record farm incomes
• Direct payments for crops that are not based on a farmer’s income, crop prices, or any standard of need
• The creation of a new, permanent disaster aid program, creating incentives to grow the wrong crops on bad land in bad weather
• Tax breaks for special interests like race horse owners and timber companies

My Comments: This bill is a high example of the waste and graft that exists in our government. Have you seen any local coverage on your news channels? probably not. BTW, most food and grain producers are doing VERY well right now with commodity prices at all time highs. And the usual excuse that I hear for the high food prices being that "it's because of oil prices," isn't a good enough reason for taxpayers to subsidize these big businesses.

The pork of the Farm bill looms large

From Examiner.com

There will be unmelted snowballs in Hades before this Congress agrees to cut out the pork in the farm bill headed for a vote within the next week, so President Bush should get his veto pen ready. At an estimated cost of at least $285 billion over 10 years, this will be the most expensive and regressive farm bill ever.

Subsidies to Big Agriculture

From The Wall Street Journal:

At a time when parts of the world are facing food riots, Big Agriculture is dealing with a different sort of challenge: huge profits.

The robust profits are emerging against the backdrop of a food crisis some experts say is the worst in three decades.

Comment: As food prices spike and grain companies’ profits soar ever higher, I continue to question the justification for farm subsidies. Most subsidies end up in the hands of large corporations like Archer Daniels Midland. And it must be pointed out that companies like ADM are making out like bandits: Profits for ADM climbed a whopping 42% in its fiscal third quarter. While I am pleased that ADM and other grain producers are having great success in their industries, there should be no doubt that corporations like ADM do not need any extra help from the American taxpayer. Additionally, as much of the world grapples with mounting food prices that have become severe in some developing countries and that has led to rioting, poor farmers from developing countries can not compete on the world market with large corporations that receive subsidies in rich countries. Our government constantly harps about how developing countries should liberalize their trade, yet our subsidy policy makes their attempt at a decent livelihood far more difficult and discouraging. This is all an example of how crony-capitalism makes matters worse for everybody.

U.S. Farm Bill deadline looms

I’ve commented on the extravagance of the farm bill several times on this blog and every time I read an updated report on this bill, I am simply amazed at the largesse and scope of this massive government program. Additionally, most people I talk to have no idea that this bill has a lot more to it than just subsidies for farmers. This farm bill includes the following gratuitous programs: food stamps, nutrition programs, conservation programs, and even energy programs (includes 2.5 billion for the folly of bio-fuels). Now, I realize that the possibilities that the farm bill will ever be scrapped or scaled back are positively remote. So, I’m not going to get my hopes up. It will be interesting to see who supports this classic boondoggle.