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| Say what you want about crop insurance, but I wonder how much the cost of food will go up if all those so-called marginal acres are taken out of production? What if we took another billion bushels of corn out of last year's production? Who would have gone hungry? My guess is the cost to the consumer in higher food costs is much higher than the total cost of crop insurance is to the taxpayer if crop insurance was taken out of the picture.
Put another way, would have you new producers in South Dakata or North Dakota been enticed to convert to row croping if there was no crop insurance? My guess is that despite the advances in hybrids, the answer would be "no" for many of you.
Moreover, can anyone tell me what the current annual national deficit is off the top of your head within $25 Billion? Well, the cost of crop insurance to the government in the worst year (2012 is what Bloomberg is looking at) is less than that. Do you really think that getting rid of crop insurance will come close to remotely balance the books?
The cost of crop insurance is blip relative to cost of running the government. If they would seriously cut their payroll, cut welfare spending, and cut entitlement programs to a goal of making the Federal Deficit manageable, I would consider supporting a cut in crop insurance to join the "cause", We have been thru cuts likes this in the past, though, and the history of it is that the country asks the farmers to go first to the chopping block and then the rest us will follow waaaaay behind you. So far behind you, it will never happen.
Edited by Iowegian 9/9/2013 15:32
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crop insurance as we know it ,days are numbered
