Then vs. Now
The Heritage Foundation has an interesting table that compares commodity prices from 2002, when Congress passed the last farm bill, to today.
Isn’t it clear that we need to subsidize the farmers? Look at how much money they have lost over the last six years…
| Market Prices of the Five Most-Subsidized Crops |
| Crop |
Unit |
Price During 2002 Farm Bill Debate |
Price During 2008 Farm Bill Debate |
Price Increase |
2008 Farm Bill Response* |
| Rice |
($/cwt) |
$3.88 |
$14.80 |
281% |
Level, no significant cuts |
| All Wheat |
($/bu) |
$2.84 |
$10.10 |
256% |
Increase subsidies |
| Corn |
($/bu) |
$1.91 |
$5.13 |
169% |
Level, no significant cuts |
| Soybeans |
($/bu) |
$4.47 |
$11.80 |
164% |
Increase subsidies |
| Upland Cotton |
($/lb) |
$0.29 |
$0.60 |
105% |
Level, no significant cuts |