Congress is close to approving another five-year farm bill that would cost the treasury about $300 billion. A good chunk of this funding – about $5.2 billion a year – will be in the form of “direct payment” subsidies to growers of corn and other crops, including some growers who are millionaires.
I’m surprised they don’t raise the subsidies in view of the fact that crude oil/natural gas is rising so high. After all their cost for fuel, fertilizer, insecticides, electricity, parts for their equipment, etc are rising at a rapid rate all caused by the price of oil/gas.
I personally know a dairy farmer who’s collected just shy of $20,000, every year, for over a decade so he will NOT expand his dairy operation.