Senate OKs cap on crop insurance subsidies

  • Article by: JIM SPENCER , Star Tribune
  • Updated: June 20, 2012 - 9:19 PM

Farm bill amendment would limit a subsidy program that reduced premiums for farmers making more than $750,000.

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splinedJun. 21, 12 7:16 AM

When will the senate stop spending money we do not have? Federal crop insurance is one of the most destructive economic weapons congress has ever unleashed against smaller farmers as they cannot compete with the multimillion dollar investment/profit guarantees the government is giving the larger farmers. The government guaranteeing the largest the most profits guarantees the continued demise of our rural communities. Congress providing safety nets without limits is like the government guaranteeing Walmart's investments as well as guaranteeing Walmart with multibillion dollar profits. When government assumes all risks, farmers have no reason to budget for risks and are encouraged to bid land costs still higher guaranteeing still greater costs to the federal government.

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