North Liberty and South Bend, Indiana | I searched this several years ago. Going off memory something around 20 billion is the total intake of insurance premiums. It was about 11 from subsidies and 9 from farmers pockets. Interesting part was only 10 was paid out annualy. Meaning each and every year 10 billion is going somewhere. Could never find out where. So to me the subsidized portion isn't for crop insurance, its for some other program but hidden in insurance.
I may be incorrect on the amounts, could have been millions rather than billions. Pretty sure its billions though. |