What if there's no farm bill?

What happens if Congress fails to pass a farm bill by October 1st? Not much, argues American Enterprise Institute (AEI) agricultural economist Vince Smith in a just-published post.

"[T]he sky won’t fall, Chicken Little will mend the bump on his head from the acorn, and U.S. agriculture, which the USDA predicts will earn record revenues and profits from its 2012 crops, livestock sales and government subsidies, will continue to enjoy a banner year."

Vince Smith is an AEI visiting fellow, a professor at Montana State University, and the director of AEI’s American Boondoggle: Fixing the 2012 Farm Bill project.

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Vincent H.
Smith

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