Examining America’s Farm Subsidy Problem

Dear Capitolish,

I hope you all had a very happy Vax Day yesterday and are eagerly awaiting your jabs in the coming months. I know I am. We’ll talk more about the COVID vaccine in the future, but for now I’d like to change gears and talk about something totally different: farm subsidies. (I know, I know—it’s almost too much excitement for one newsletter, but let’s all try to keep it together, shall we?)

Anyway, you may be surprised to learn that, in the midst of a global pandemic and continuing trade war(s), the USDA just announced that American farmers are having a banner year in terms of income and profits:

U.S. net farm income this year will jump 43% to $119.6 billion, the highest inflation-adjusted level since 2013, the government said Wednesday in a report. The projected surge occurred as the virus pandemic roiled the food-supply chain in the spring, driving grain prices down and meat costs higher….