Fake savings: The 2013 House farm bill
As reported in the AEI paper, “Field of Schemes Mark II: The Taxpayer and Economic Welfare Costs of PriceLoss Coverage and Supplementary Insurance Coverage Programs,” authored by Bruce Babcock, Barry Goodwin, and myself, the PLC program would provide farmers raising major crops such as wheat, corn, peanuts, rice, barley, and soybeans with very substantial subsidies if crop prices move from their current record (or near record) levels towards relatively recent historical levels
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