Farm subsidy reform could backfire

Forecast savings rely on crop prices remaining historically high

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The half-trillion-dollar farm bill is designed to cut the federal deficit overall by $23 billion when compared with spending projections under the current measure. Some of the savings would come from cuts to environmental and nutrition programs.

“The bill needlessly cuts programs to feed the hungry and protect the environment to help fund a new entitlement program to guarantee the income of some very profitable businesses,” Mr. Faber said.

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