Farm Subsidies

Obama Signs Farm Bill

Legislation everybody knows is awful, yet nobody is able to stop

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President Obama signed the bipartisan farm bill Friday, saying it will promote agriculture, provide more money for research into the environment and energy, and feed hungry Americans through the food stamp program.

Comparing the massive new law to a "Swiss Army Knife," Obama told supporters at Michigan State University that the farm bill "multitasks. It's creating more good jobs, gives more Americans a shot at opportunity."

Obama also compared the bill to baseball star Mike Trout, saying both can do a little bit of everything.

The five-year bill—approved by Congress this week after years of fierce debate—expands federal crop insurance. It also changes the food stamp program, cutting it by $800 million per year—about 1%—and raising the automatic eligibility requirement.