November 11, 2005

Farm Subsidies Suck

$143 billion. That's the amount the American public has paid to failing agriculture industries in the United States. How much growth has resulted from this investment? $0.

That's right, none. Agricultural economic growth has been seen out of this at all in the last 10 years. American tax dollars have given $143 billion in help to US farmers, and yet it takes Ben and Jerry to save small farms. This is just sad.

Why are farm subsidies so bad? It's because no matter how the agricultural season turns out, the government loses. Shortages on the crops? The federal government loses as farms across the nation default on loans. Surpluses in crops? The federal government loses as well. How? It's because the farmers are afraid of inflation, and have all crops set at an "ideal" 1929 adjusted price. Guess what the US government has to do? It has to buy up all of the surplus so the price stays the same. Either way, we lose.

That's $143 billion wasted for nothing. There must be something done. I propose an immediate end to all farm subsidies now and the removal of "ideal" price. We can't afford to waste $143 billion again.

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