Obama's Latest Bailout Target: U.S. Farmers

Chris | InformationLiberation

Obama has a brilliant new plan to save U.S. farmers suffering from drought--give them hordes of taxpayer money for their produce, "freeze it," then use it at a later date.

Reuters reports:

CHICAGO -- President Barack Obama will announce on Monday that the Department of Agriculture intends to buy up to $170 million of pork, lamb, chicken and catfish to help support farmers suffering from the drought, a White House official said.

The food purchases will go toward "food nutrition assistance" programs, like food banks.

During a visit to Iowa, a political swing state that the Democrat hopes to win in the Nov. 6 election, Obama will press Congress to pass a farm bill with short-term relief measures for the ranchers and farmers hurt by the drought.

The president will also direct the Department of Defense to "encourage" its vendors to speed up purchases of lamb, pork and beef and freeze it for later use.

"This is a win-win. Farmers and ranchers will have an opportunity to sell more of their products at this critical time and taxpayers will get a better price on food that would have been purchased later," the official said.

First off, as the article highlights, this is about buying votes in swing states. Second, this will drive up the prices of food even further as 170 million new dollars will be bidding on the same scarce food as the general public. Third, the idea of buying the food now to "freeze it" is also moronic, for one, frozen food is worth less than fresh, for two, it will lower demand in the future which will wreck havoc in the markets as producers selling in the future will not be able to get a high market price for their produce, but an artificially lowered price thanks to the glut of produce from the bailout being dumped onto the market.

Like all government intervention, this is a lose-lose for everyone involve, except of course Obama and his politically connected cronies, they'll be given hordes of stolen taxpayer loot they in no way deserve.
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Chris runs the website InformationLiberation.com, you can read more of his writings here. Follow infolib on twitter here.

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Comments 1 - 3 of 3

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Calvin Leman

Posted: Aug 13 2012, 9:35 AM

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173224

Farmer families or corporations? Who is Obama helping?

Nickel's2bits

Posted: Aug 13 2012, 4:37 PM

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97104

"First off, as the article highlights, this is about buying votes in swing states."

So what? Buying votes is "free speech" and a time-honored tradition.

Anonymous

Posted: Aug 14 2012, 8:10 PM

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18438

3rd, they are buying 170 million dollars worth of food and they will have to use many millions more to get/keep the food frozen and stored for there intervening months until it is needed....classic gov't idiocy & waste.

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