Food Prices Up. Farm Bill... Also Up?

Katherine Mangu-Ward | April 29, 2008

Congress to self: "Hmmm... food prices are way up. People are freaking out about it. What's the best approach here? Think, Congress. Think!"

"Ah ha! $300 billion in price support and other farm subsidies!"

<Congress pats self on back> 

***

Oh well, I guess we should be grateful for the little things:

The proposed bill would ratchet down payments to wealthy individuals not directly involved in farming, perhaps setting a cap that would cut off benefits for those earning above $500,000 in nonfarm income.

More farm fun here.