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President Bush reiterated his Farm Bill veto threat on
Wednesday. During the installation ceremony for the new Agriculture Secretary,
Ed Shafer, Bush made a strong statement to the effect that he’ll get what he
wants from Congress….or else.
Looks like poor Ed stepped into the middle of a dog fight.
While the President focuses visibly on payments to wealthy
American land owners, he pointedly ignores the need for a safety net to protect
farms from sudden, vicious, economic downturns. Reverting to1949 farm law,
which would be the result of a failure by Congress to act or the President to
ratify, would protect some growers but not all.
Meanwhile, most of the discussions regarding payment limits
in the proposed bill are really not too relevant. Most grain markets would have
to decline by about 150% for current target prices to be triggered even as
production costs post new highs.
Denial of payments to the so called wealthy places more farm
rentals on the auction block by making crop share rents undesirable in an
indirect mandate for cash rent. Cash rent promotes big agribusiness.
Of course, a veto on the grounds of payments would also kill COOL, and better livestock competition rules. After supporting farms for nearly 12 years with virtually no payment limits in place, it seems strange that once we finally gain Country of Origin Labeling, a packer ban on livestock ownership, and better PSA enforcement, the Administration has a change of heart about rich folks.
It says something about our national farm policy if a 50 year old law becomes the only possible choice by default.
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