QUOTE OF THE DAY….From Senator Tom Harkin (D–Iowa), chairman of the Agriculture Committee, on why he’s unable to eliminate the $5.2 billion “direct payment” program for farmers even though farm incomes are skyrocketing:
“I don’t have the votes. People love free money.”
By the way, since I’m sure you’re dying to know, the formula for direct payments to, say, corn farmers, is: DPcorn = (Payment rate)corn x (Payment yield)corn x [(Base acres)corn 0.85 x]. More excrutiating details here.