May 15, 2008

Wall Street Journal Attacks Farm Bill

Today's editorial in the Wall Street Journal attacks the US farm bill and looks at the absurdity of increasing subsidies for farmers, currently having their best year ever, while the rest of America suffers. We hope the article is well read. This is just a taste

This year farm income is expected to reach an all-time high of $92.3 billion, an increase of 56% in two years, making growers perhaps the most undeserving welfare recipients in American history. But that won't stop this bill from passing the House and Senate by wide margins. Speaker Nancy Pelosi was once a farm subsidy skeptic, but she now has some 30 freshman Democrats from battleground rural districts to protect. So more than $10 billion a year in giveaways to agribusiness is a necessary taxpayer sacrifice to keep her majority.