High school friend of Env-Econ (Chuck) asks: what are your thoughts on the farm part of this? First an excerpt:
On agriculture, wealthy farmers would get less money from the federal government -- and none, three years down the line -- under proposals in Obama's first budget.
Obama's proposed fiscal year 2010 budget "phases out direct payments over three years to farmers with sales revenue of more than $500,000 annually," according to the list.
At present, "direct payments are made to even large
producers regardless of crop prices, losses or whether the land is
still under production."
But according to the list, "Large
farmers are well-positioned to replace those payments with alternative
sources of income from emerging markets for environmental services,
such as carbon sequestration, renewable energy production, and
providing clean air, clean water, and wildlife habitat."
The new proposed budget cuts the Market Access Program which provides "funding for overseas brand promotion." It cuts cotton subsidies and "proposes to eliminate the requirement for the government to pay the storage costs of cotton that is put under loan by the USDA. Cotton is the only commodity for which this assistance is provided."
My thoughts? Jublilation. Joyous vindication. Disciplinary pride.
Reducing or removing inefficient farm income policies is long overdue...with the added bonus of cheaper food. Sounds like a win-win to me.
