All Commentary
Thursday, April 29, 2010

Crop Insurance Subsidies May Be Reduced


“The federal government wants to save taxpayers billions of dollars by reducing spending on crop insurance after years of big profits by insurers, but the industry claims the reductions could hurt rural areas…. Crop insurance covers part of farmers’ losses when their crops fail and helps them get credit for spring planting because lenders know they will be able to repay their loans. While participating farmers pay premiums, the government subsidizes the program to keep it affordable. Last year, it paid crop insurers $3.8 billion.” (USA Today, Thursday)

Let the farmers buy their own insurance.

FEE Timely Classic
“Just Say No to Farm Subsidies” by Lawrence W. Reed