American Enterprise Institute: 'Why Crop Insurance Costs Too Much'

Source:AEI- Could be a scene from the great Alfred Hitchcock movie North by Northwest. I guess you would have to be a classic movie fan, or at least an Alfred Hitchcock fan to get that reference. LOL

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From AEI

If you want to know what Federal Government waste looks like and is, just look at any of the Federal farm bills that are passed where wealthy and corporate farmers get subsidized essentially just for doing their jobs, producing food. This is another form of welfare, but instead of helping low-income and low-skilled people, what Welfare Insurance has traditionally been for. 

This is corporate welfare subsidizing business's for making a lot of money. I don't have a problem with Welfare Insurance for low-skilled and low-income people who need assistance to become self-sufficient in life, including temporary financial assistance. But these are the people it should be for, not for people who are already doing very well which is great. But they don't need assistance especially assistance thats funded by taxpayers. Especially since we have a Federal budget deficit of 1.6T$ and debt of 14T$ in an economy of 14T$. And Federal Agriculture Insurance represents around 40B$ a year in pork barrel Spending. (Pun intended) 

If we are going to fund Agriculture Insurance in the Federal Government, then it should be self-financed and a self-sufficient program. That doesn't have to be funded out of general revenue that the Federal Government would even have to manage. That would be non-profit or run by the states that farmers would have the option to pay into or not but wouldn't be eligible for agriculture assistance from the Federal Government unless they pay for it. 

This would save the Federal Government 40B$ a year, as well as the operating costs of running the program. Savings that could be used to help pay down the Federal deficit and debt. It wouldn't get our deficit and debt under control on its own but would represent a big piece of a deficit reduction package on its own. 

Again Welfare Insurance should be for the people who need it: low-skilled and low-income people can't survive without it. To help them get on their feet and become self-sufficient. Welfare Insurance should not be for people who are already doing very well and survive very comfortably on their own.