Arnold Kling

The Farm Bill

Arnold Kling, Great Questions of Economics
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The liberal refrain is that "We cannot afford tax cuts." Then how can we afford this?

This week the Senate is expected to approve the final farm bill, a 10-year, $173.5 billion bucket of slop...By the time all the handouts and payoffs were complete, the well-fed conferees had agreed to increase agricultural spending by no less than 70%.

...The bulk of this bill's new flood of subsidies will go to a select group of wealthy wheat, rice, corn, cotton and soybean growers

Discussion Question. How much more is spending likely to increase in a year in which the Senate is closely contested, compared with a year in which the Senate is not up for grabs?

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