Business Roundtable Perspectives: No. 472, July 2011
new-zealand-business-roundtable
Fri Jul 15 2011 12:00:00 GMT+1200 (New Zealand Standard Time)
Business Roundtable Perspectives: No. 472, July 2011
Friday, 15 July 2011, 5:21 pm
Column: New Zealand Business Roundtable
Business Roundtable Perspectives: No. 472, July 2011
The Department of Food Subsidies
By Victor Davis Hanson
23 June 2011
The Department of Agriculture no longer serves as a lifeline to millions of struggling homestead farmers. Instead, it is a vast, self-perpetuating postmodern bureaucracy with an amorphous budget of some $130 billion – a sum far greater than the nation's net farm income this year. In fact, the more the Agriculture Department has pontificated about family farmers, the more they have vanished – comprising now only about 1 percent of the American population.
Net farm income is expected in 2011 to reach its highest levels in more than three decades, as a rapidly growing and food-short world increasingly looks to the United States to provide it everything from soybeans and wheat to beef and fruit. Somebody should explain that good news to the Department of Agriculture: This year it will give a record $20 billion in various crop "supports" to the nation's wealthiest farmers – with the richest 10 percent receiving over 70 percent of all the redistributive payouts. If farmers on their own are making handsome profits, why, with a $1.6 trillion annual federal deficit, is the Department of Agriculture borrowing unprecedented amounts to subsidize them?
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This article was published by Townhall.com on 25 May 2011.
Articles in the Perspectives series plus a large library of books, studies, speeches, articles and DVDs on a wide range of public policy issues can be found at www.nzbr.org.nz
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