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marketeye
Senior Contributor

$10 Billion Farm Spending Cut

Farm subsidies would be cut by $10 billion, under a larger deficit-cutting plan, put forth Friday by an 18-member Congressional commission. Only garnering less than 14 votes, that is not enough to qualify it for a vote in Congress. But, don't you think this signals there's support to cut farm subsidies 'big-time'?

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40 Replies
Artifice
Veteran Contributor

Re: $10 Billion Farm Spending Cut

easier to pass when prices are high.

2-3 yrs out if supply responds to producrtion?

 

??

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BA Deere
Senior Contributor

Re: $10 Billion Farm Spending Cut

Just my 2 pennies, the current safety net of the `02 bill isn`t adequate with today`s cost of production and the direct payment is only capitalized into farmland rent. Farmers could really get some warm fuzzies in the public`s eyes if we marched on Washington to actually   cut the farm bill. Of course there should be a fast track to get some supports if we go a couple years with $1.50 corn and $4.50 beans. 

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nwobcw
Advisor

Re: $10 Billion Farm Spending Cut

10 billion is peanuts in the overall budget.  Just some low hanging fruit to pick.

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jrsiajdranch
Veteran Advisor

Re: $10 Billion Farm Spending Cut

Yea but if we pick some of this low hanging fruit we will get some where. Right?

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smokeyjay
Senior Contributor

Re: $10 Billion Farm Spending Cut

One man's low hanging fruit is another man's lifeline. 

 

Remember one overlooked fact:  Everytime congress goes into budget cutting mode, agriculture gets cut and eventually all other programs continues to tack on real growth in spending.  Does anyone remember Grahmm-Rudman?  Agriculture took a major hit, all other programs were back on the wagon the next year.  Agriculture's budget continued forward with its baseline cut and all components within the line item had to compete for what was left over.

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smokeyjay
Senior Contributor

Re: $10 Billion Farm Spending Cut

If you've read Marketeye's post in Marketing, you would learn of weather issues in wheat.  Typically grown in semi-arid climates world wide, American farmers are no exception to this vulnerability.  Crop insurance is still not where it should be as a fool-proof safety net, especially in a multi-year event. 

 

If crop insurance were improved and its budget not cut, one might have a case to make in supporting cutting program payments, but what are the odds of this scenario playing out? 

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k-289
Senior Advisor

Re: $10 Billion Farm Spending Cut

One has to look back at the election---everyone wants to be a conservative until the hatchet falls on their tree--or cut everyone but me---the adjustments need to be made on the S.S.---Medicare---etc. Where the lions share is spent---although these programs are untouchable with the next election less than 2 years away  ???

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kraft-t
Senior Advisor

Re: $10 Billion Farm Spending Cut

Do you want SS, which has surpluses loaned to the general fund, to pay for the excesses of other spending? Why punish seniors for loaning you money? Do you you want to cut SS taxes or just cut benefits? Why would earners want to continue to pay taxes for less benefits?

 

Untouchable? Yes workers are paying a specific tax to fund SS and medicare. Why shouldn't we object to your tampering with them because you spend so recklessly in other areas. Clean up your own house first bub before you venture into self sustaining issues.

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kraft-t
Senior Advisor

Re: $10 Billion Farm Spending Cut

I would eliminate federally subsidized crop insurance first. Perhap that would take the marginal productive areas out of business. Or return them to grazing ground or desert like they would meant to be.  And I haven't even mentioned the highly productive areas sharing the risk with land that shouldn't have been plowed in the first place. Our partici[ation in crop insurance is enabling marginal acres to remain in business.

 

Subsidized health insurance, which most farmers oppose, is at least as important as insuring the financial health of crop farmers. Perhaps more so.

 

Lets do away with all ag subsidies and show that we capitalist farmers are willing to do our part to return to our nations financial health. We ahve been to the trough long enough. Yes and the quick tax writeoffs for machinery should go away as well. Depreciation is a valid business expense as it occurs not years in advance.

 

Shared sacrifice saounds good. Now if our senators and representative would only lead by example and cut their own pay and pensions by 20% I would conclude that they were serious us. Until then I conclude they are not serious at all.

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