Monday, January 20, 2014

A Reminder of the Bad Old Days

From the Wall Street Journal, a chart showing various payments to farmers under Farm Bills since the 1996 "Freedom to Farm" bill:

It would be nice if the chart broke out direct payments versus LDP payments.  LDP had a sizable impact on grain farmers' income from 1998-2006, and it has only been since the ethanol mandate and the Chinese commodity boom that we got away from LDP.  It would also be interesting to depict where Crop Revenue Coverage was introduced, and any changes in subsidies for the crop insurance program.

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