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Stock Option Trading The Farm legislation in Congress is already outrageous, but it may soon become more so. The House has produced a bill that accepts existing payments to farmers and throws an additional $48.8 billion at them over a decade.

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Currency Day Trading The Senate has passed a version that was advertised as costing less -- until the Congressional Budget Office noticed an error that made the Senate bill almost as expensive as the House one. You might think that the Senate's leaders, who thought they had voted for a more modest bill, would now want to repair some of the damage. But the signs from the House-Senate conference negotiations point the opposite way. The Democratic conferees, led by Sen. Tom Daschle (D-S.D.), seem ready to spend as much money as the House wants.

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Financial Software Trading These farm payments are obscene because they are partly self-defeating. The subsidies stimulate extra planting, which pushes farm prices down, which leaves farmers more dependent upon subsidies. The one mechanism for containing this absurd spiral is an amendment, authored by Sen. Dick Durbin (D-Ill.), that ends subsidies for planting new land, thus limiting the extent of overproduction. You might think that the Senate conference negotiators would champion this measure. But instead there is talk of its dilution.

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Online Stock Trading Company The more money that is spent on production subsidies, the less there is for the parts of the farm bill that serve a legitimate purpose. One of these is food stamps and food banks for low-income households: The original Senate bill included $8.9 billion for these programs, whereas the House set aside only $3.6 billion. Another worthwhile area is conservation: The Senate provided $21.3 billion for these programs, while the House offered only $16 billion. Unless the Senate conferees limit their urge to throw money at production subsidies, they will be forced to accept the House's low numbers for these deserving programs.

Forex Day Trading There is no obvious political excuse for worsening the nation's already awful farm policy. The Senate's Democratic leaders naturally want to win farm states and they don't like to be outbid by the House Republicans when it comes to bribing farmers. But the Democrats should also consider their prospects elsewhere -- in states whose taxpayers have to foot the bill for those bribes and whose environmental groups will be annoyed if conservation promises prove empty. It is up to non-farmstate Democrats to press their consituents' interests with the leadership. And it is up to Mr. Daschle to listen to them.

Financial In Market Washington Post - 3/16/2002

Topic: Agriculture

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