In the wake of the massive droughts that rocked farm production nationwide this summer, farmers are on track to receive massive support from the federal government, while simultaneously making record profits. This incongruous turn of events has led some fiscal conservatives to attack farm subsidies, arguing that they are wasteful and unnecessary.

A recent report from the U.S. Department of Agriculture has revealed that, despite the devastating drought that has crippled crop production in the Corn Belt, farmers are likely to make record profits this year. The reason for this increase in income is large-scale support from federal crop insurance programs combined with increasing corn prices.

Some fiscal conservative groups have taken issue with farm subsidies in light of these profits. An article from Heritage Action for America, a sister organization to the conservative think tank, The Heritage Foundation, stated, “If you listened to the hysterical clamoring of pundits and politicians, you could be forgiven for thinking that the drought was the long-awaited arrival of the Black Horseman of the Apocalypse and that only the immediate passage of a $1 trillion food and farm welfare bill could spare us from a dearth of rain fall.”

Fiscal conservatives in Congress have had a similar reaction to calls for increased federal farm support. One of the reasons for the ongoing farm bill delay, some political pundits argue, is that the Republican leadership in the House is afraid that Tea Party representatives and fiscal conservatives may revolt, voting down the farm bill and handing Speaker of the House John Boehner and embarrassing legislative defeat right before the 2012 election.

To learn more about agricultural financing opportunities contact a Farm Plus Financial representative by calling 866-929-5585 or by visiting www.farmloans.com.

Follow us on: Twitter

Written by: Justin Ellison / Farm Plus Staff Writer