I absolutely do not understand this:
The proposed extension to farm legislation that expired in September would be for “some months” but for less than a year, the source said.
If an extension is passed the United States would avoid reverting to 1949 “permanent law” and a potential spike in the retail price of milk to as much as $8 a gallon in 2013.
The Senate passed its new five-year farm bill in June, and the House Agriculture Committee followed with a version in July.
But the House bill, with large cuts in food stamp funding for lower-income Americans, has never been brought to a vote by the full House. The Senate and House remain far apart on the issues of food stamps and crop subsidies.
Many estimate that U.S. retail milk prices could rise sharply in 2013 – to some $6 to $8 per gallon from the current level of about $3.53 – if the government reverts to 1949 statutes that would require USDA to buy and store dairy products at inflated prices.
This makes absolutely no sense to me. Why is the USDA storing dairy? Why are we paying farmers to not grow shit? Why are we paying ConAgra and others billions in subsidies?
Aren’t wheat and corn and grains going to be at all time highs this year? As well as meat prices? Why are we subsidizing them?