4 More Reasons to Eliminate Wasteful Farm Bill Spending
The absence of food stamp spending in the recent House-passed farm bill gave a revealing look at where lawmakers stood on the issue of spending — because the farm-only farm bill was still full of wasteful spending. A local editorial in Colorado observed you can tell how serious representatives are about cutting spending by how they voted on the bill.
Buried in the editorial were four stats that demonstrate the level of egregiously wasteful spending in the farm bill.
- Since 1995, taxpayers have been soaked for $227 billion in agricultural subsides.
- Of that, 74-percent has gone to just 4-percent of farms.
- Only 38-percent of farms receive any subsidies at all.
- Most U.S. agriculture subsidies support just 10 specific crops, with corn and soy getting the bulk of them.
Incredibly, the new farm bill does nothing to change the status quo. Taxpayers and consumers will continue to be the big losers in this scenario, while large corporate farms rake in the dough (farm profits are at record highs!) and heavily lobby Congress to maintain their subsidies and expensive, taxpayer funded crop insurance.