How would cutting farm subsidies affect the U.S. Economy and the National Debt?

[mysticaltyger]

Originally Posted by baystater

1. What do you think the effect on the U.S. economy would be if they did cut farm subsidies all together or at least severely cut them?

2. What would be the final effect on the U.S. Debt if they were cut?

3. How would this affect the U.S. competitiveness in the sphere of world agriculture?

#1. The effect would be small but positive. Cheaper food would be the result.

#2. US debt would drop, not only by the amount they subsidizze, but it would also generate more tax revenue. The effects would be positive, but very far from a magic bullet that would bring the deficit down.

#3. It would make US agriculture more competitive in the long run.

[mysticaltyger]

Originally Posted by shaker281

If the conservatives who favor a free market economy were true to their words, they would apply the same logic to farm subsidies that they applied to GM and Chrysler and all corporate subsidies, including oil. That is, they will either survive or fail on their own merits and a better system will replace the one that fails. However, this is the true nature of hypocrisy, where one's politics favors their agenda at the expense of others and ideology trumps reality.

I'm a fiscal conservative, and I completely agree. There are very few politicians who are true fiscal conservatives, unfortunately

[killer2021]

Everyone would benefit. Subsidies are basically welfare for the rich.