Great article on farm subsidies on the front page of the New York Times this morning:
It seems a rare act of civic sacrifice: in the name of deficit reduction, lawmakers from both parties are calling for the end of a longstanding agricultural subsidy that puts about $5 billion a year in the pockets of their farmer constituents. Even major farm groups are accepting the move, saying that with farmers poised to reap bumper profits, they must do their part.
But in the same breath, the lawmakers and their farm lobby allies are seeking to send most of that money — under a new name — straight back to the same farmers, with most of the benefits going to large farms that grow commodity crops like corn, soybeans, wheat and cotton. In essence, lawmakers would replace one subsidy with a new one.
Surprise, surprise. Like my NC State colleague Mike Roberts wrote in a post last week:
These subsidies have been tough to justify for a very long time now. Today’s budget pressure just might be able to break them. But don’t hold your breath. These subsidies have been around since the Great Depression and while they’ve gently declined over time in importance, they’ve been tough to kill.