A Depression-era program intended to save the nation’s farmers from ruin has grown into a 21st-century crutch enabling affluent growers and financial institutions to thrive at U.S. taxpayer expense.
Federal crop insurance encourages farmers to gamble on risky plantings in a program that has been marred by fraud and that illustrates why government spending is so difficult to control.
And the cost is increasing. The U.S. Department of Agriculture last year spent about $14 billion insuring farmers against the loss of crop or income, almost seven times more than in fiscal 2000, according to the Congressional Research Service.
The arrangement is a good deal for everyone but taxpayers. The government pays 18 approved insurance companies to run the program, pays farmers to buy coverage and pays the bills if losses exceed predetermined limits…
“We have been subsidizing some of the farmers who least need it in a way that is really costing taxpayers a lot of money,” said Senator Jeanne Shaheen, a Democrat of New Hampshire. “We’re never going to solve our budget challenges if that’s what we’re doing…”
And the program’s been vulnerable to fraud, notably in North Carolina where a network of insurance agents, claims adjusters and farmers bilked the government of close to $100 million over more than a decade.
RTFA. It does a great job of describing in detail how Congressional corruption, crony capitalism, lifts the median income for farm families 70% higher than the rest of working America.
More important – for Congressional creeps – more than 40 corporate groupings deriving profit from farming provide millions in campaign funds via lobbying the House and Senate.
Read this thoroughly. holler at your elected officials. Evaluate the patent leather lies they tell you for what they really are.