Crop insurance will cost Americans two cents per meal

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The Congressional Budget Office’s latest 10-year budget projections show Americans spending two cents per meal to fund federal crop insurance.

From 2000 to 2011, federal crop insurance cost Americans one cent per meal. This one-cent increase comes despite the five-year, $100 billion per year farm bill. Most of the farm bill money goes to domestic food programs. Only about 15 percent of the budget supports farm programs and crop insurance.

In part, these rising insurance prices are the result of bad weather. Crop insurance protects farmers against inclement weather, and with droughts affecting many areas in the U.S., farmers need crop insurance more than ever. The government spends roughly $8.5 billion per year on farm insurance while farmers pay $4 billion out of pocket to buy policies. Read more here.

The Senate’s farm bill creates a link between conservation compliance and crop insurance subsidies. Farmers with high-adjusted gross incomes will receive smaller subsidies than low-income farmers will. Read more here.

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Craig A. Moore    
Billings, MT  |  July, 26, 2013 at 08:22 AM

I wonder how much per meal it cost Americans to rebuild after Katrina and Sandy for those that didn't contribute to their own insurance for storms and the taxpayers had to pick up the bill?

Waterloo, Iowa  |  July, 26, 2013 at 10:02 AM

Could you expand on the first sentence of the second paragraph? I've read it several times and I think there's an error, but maybe I just don't understand. Something that cost Americans one cent per year would come out to less than $3 million per year, and I'm pretty sure you can't administer a federal program for that much, say nothing of issuing actual benefits.

Brenda Lavigne    
Foxworth,Ms  |  July, 26, 2013 at 10:08 AM

Does the Congressional Budget Office prepare a report that tells Americans what food stamps aka SNAP costs the American public per meal? Chances are it is greater than 2 cents.

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