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Financial Spread Trading At least 11 representatives and senators, including some of Washington's most influential voices on farm policy, benefit from farm subsidies that in many cases they have voted to support.

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Nfl Betting Spread In a recent letter to colleagues, Rep. Marion Berry (D-Ark.) warned of dire consequences if Congress fails to boost federal crop subsidies aimed at helping farmers through hard times. "The viability of the American farmer and rancher and all of rural America is seriously threatened," Berry wrote on June 26. "Congress has a rare window of opportunity this year to do right by our nation's farmers and ranchers."

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Commodity Spread Trading Berry knows whereof he speaks: He's one of the farmers.

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Betting Exchange Spread Between 1996 and 2000, farm and land-holding companies that Berry owns with relatives in eastern Arkansas have received $750,449 in federal crop subsidies, according to U.S. Department of Agriculture records. Some of the money -- $173,382 -- came in the form of ad hoc "emergency" payments that Congress has doled out for the last five years with the vigorous support of Berry and other farm-state lawmakers.

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Advanced Commodity Spread Berry is not the only lawmaker with personal experience in federal farm programs. At least 11 representatives and senators, including some of Washington's most influential voices on farm policy, benefit from farm subsidies that in many cases they have voted to support.

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Online Spread Betting The lawmakers say their involvement in setting farm policy that could affect their bottom line is no different from that of a doctor-congressman who votes on Medicare and note that most of the subsidies are absorbed by production costs. Environmental advocacy groups, among others, call the lawmakers' participation in the farm programs a conflict of interest that highlights the distorted nature of federal subsidies once intended for struggling family farmers but increasingly absorbed by big farms or absentee landlords.

Stock Spread Trading Like several of his colleagues, Sen. Charles E. Grassley (Iowa), the ranking Republican on the Senate Finance Committee, gets his subsidy checks -- $110,936 since 1996 -- mailed to his Washington-area residence.

Betting Horse Racing Spread "This is really about people who own land, or have an interest in land that gets subsidies, and for the first time we're seeing that they're in the awkward position of voting for these massive increases without ever saying a word about it," said Kenneth A. Cook, president of the Environmental Working Group, a Washington research and advocacy organization.

Complete Guide Spread Trading Under congressional ethics rules, lawmakers are not required to disclose money they receive from farm programs, and the Agriculture Department has traditionally refused to identify farmers who receive subsidies, citing privacy concerns. In 1996, however, a federal judge ordered the agency to open its records to the public in response to a lawsuit by The Washington Post. The Environmental Working Group has since assembled the subsidy records into a searchable database as part of its campaign to shift the emphasis in farm programs from crop payments to conservation.

Sport Spread Betting There is nothing to suggest that Berry and his fellow farmer-politicians are getting rich from subsidies. In many cases, the payments are shared with relatives and business partners and barely offset high production costs and weather-related losses, among other things.

Low Spread Forex Trading Nor is it unusual for members of Congress to vote on legislation that may affect their income; Berry and others say they should no more have to recuse themselves from votes on farm policy than from votes on tax relief. They also suggest that participation in farm programs gives them special expertise when it comes to understanding rural America and the farm economy.

Trading Spread And Seasonals "A safe, reliable, abundant fiber supply is absolutely essential to the national security," said Berry, 59, who served as adviser to President Bill Clinton on farm policy before he was elected to Congress in 1996. "You could make the argument that military capacity is more important, but . . . if you don't have the ability to feed and clothe your people, then you're at risk."

Betting Guide Insider Sports Berry's argument echoes a larger debate unfolding in Congress as it considers legislation that will set a new course for farm policy over the next decade. At the center of the debate are the farm subsidies that originated in the New Deal as a way to help struggling farmers, promote rural development and ensure a stable food supply.

Arbitrage Spread Trading Controversy surrounding the payments has grown along with their cost. In 1996, conservative Republicans led by then-House Speaker Newt Gingrich (Ga.) won passage of the Freedom to Farm Act, which was supposed to wean farmers from most subsidies over seven years and expose them to the same market forces that govern other sectors of the economy.

Betting Spread Successful The effort has gotten nowhere. Citing disastrously low commodity prices -- largely a consequence of overproduction and the Asian economic crisis -- farmers and their allies in Congress have pushed through $20 billion in annual emergency aid bills over the last five years. The cost of farm programs has never been higher.

College Football Betting In July, the House Agriculture Committee passed a version of the new farm bill that not only resurrects the major subsidy programs, but also creates some new benefits at a total cost of $160 billion over 10 years.

Betting Point Spread On Nfl Environmental groups, in particular, are leading the charge to sharply cut crop payments. They want to shift the money into conservation programs, such as paying farmers to set aside land for wildlife habitat. The committee version of the farm bill includes $35 billion for conservation over 10 years, a 75 percent increase over current levels but far less than the environmental lobbyists seek.

Betting Point Spread Increasing money for conservation, they argue, would also spread benefits more widely than the current system, which emphasizes payments for corn, wheat and other traditional row crops grown by large family-owned farms in the Midwest and South.

Super Bowl Betting Spread "Why are we continuing to subsidize a system that is building larger and larger farms that are more and more dependent on subsidies?" said Cook of the Environmental Working Group. "And why would you do that for a rice farmer in Arkansas, or a cotton farmer in West Texas, but not do it for a tomato farmer or a vegetable grower in Wisconsin or Maryland? It's who got there first and who has focused political pressure on it."

Betting Fan Football Guide It is no coincidence, perhaps, that some of the most outspoken advocates for farm subsidies in Congress are themselves involved in farming. Berry, for example, shares ownership with his son, brother and wife of rice-farm operations covering more than 2,000 acres in eastern Arkansas, according to figures he provided in an interview.

Spread Betting Uk Although he is not actively involved in running the farms, Berry said he still considers himself a family farmer. He noted that he grew up on a farm, part of which he still owns, and is probably "the only member of Congress who wore out three Pony shovels" -- a brand favored by Arkansas farmers for its ability to hold an edge.

Betting Betting Fan Football Berry's farming business was divided until last year into three corporations, one of which, Marion Berry Inc., has received $405,990 in crop payments since 1996, according to the database. But Berry said he sees little of the money himself because most of it goes to cover production costs, which have skyrocketed even as the price of rice has plunged.

Betting Company Germany In Last year, Berry earned between $15,000 and $50,000 on his farming operations, according to his financial disclosure statement; Marion Berry Inc. also paid his wife a salary of $24,000.

Ig Index Spread Betting "These payments are not enriching individuals," Berry said of the subsidies. "In 1973, when Marion Berry Inc. was set up, we were selling rice for $11 a bushel, and a new combine was $12,000. Today, we're selling rice for $2 a bushel, and a new combine is $225,000."

Betting Guide Practical As a member of the House Agriculture Committee, Berry is well-positioned to help ease the financial burdens on farmers. Earlier this year, he sponsored a supplemental spending bill to give farmers $7.5 billion in emergency aid -- Congress ultimately passed a $5.5 billion package -- and authored an amendment to the farm bill that would double the payment limit on another forms of crop assistance.

Betting Blogspot Com Site Berry said that farm programs as currently structured are "woefully underfunded" and "threaten our very ability to produce." The emergency payments, he added, "have not put money in the farmer's pocket. What they've done is pay bills."

Learn Spread Betting Other members of the agriculture panel who receive farm subsidies include Rep. Calvin M. Dooley (D-Calif.) and Rep. Charles W. Stenholm (Tex.), its ranking Democrat, a third-generation farmer who along with his son runs a 2,500-acre cotton, wheat and cattle operation near Abilene. House Speaker J. Dennis Hastert (R-Ill.) also has a hand in the business: He has received $17,214 over the last five years for farmland he owns in central Illinois.

Football Betting Spread "The fundamental question here is do we as a country want to move toward total corporate farming with the resulting collapse of rural America or do we want to make an attempt to preserve some semblance of rural life?" said Stenholm, who clearly favors the latter.

Financial Spread Trading As for the conflict-of-interest question, Stenholm said, "If we established that as a fact then the whole concept of a citizen legislature will be thrown out the window."

Nfl Betting Spread In the Senate, farmers have an ardent defender in Grassley, who grew up on a farm in New Hartford, Iowa, and shares ownership with his son of a 1,700-acre corn-and-soybean operation in the same area.

Commodity Spread Trading In an interview, Grassley was eager to emphasize his continuing involvement in farming. "Let's be very clear," he said by phone from Iowa. "I live on the farm that I own, and I farm it. I don't live in Washington, except Monday through Fridays. . . . I'm not an absentee landlord."

Betting Exchange Spread Last year, Grassley's gross income from farming was $81,711, including federal crop payments, according to his financial disclosure statement and a member of his staff. His expenses were $60,043, the statement shows, leaving him with net farm income of $21,668.

Advanced Commodity Spread Grassley acknowledged that the subsidy system is far from perfect. In particular, he said, he is worried that emergency payments voted by Congress over the last five years have not distinguished between large profitable operations and farmers who are genuinely in need. "I wish we could have had a fairer way of directing the payments," he said.

Online Spread Betting But Grassley said the basic concept of subsidizing agriculture is sound. "Don't forget, Napoleon said an army marches on its stomach," he said. "We have a farm program to make sure we have an adequate supply of food for the defense of our nation."

Stock Spread Trading Another prominent farmer-politician is Sen. Richard G. Lugar (Ind.), the ranking Republican on the Senate Agriculture Committee, who shares ownership with his brother and sister of a 604-acre farm near Indianapolis. Since 1996, the partnership has received $48,464 in subsidies for corn, soybeans and wheat; Lugar's share of the farm's net income last year was $2,950, according to his disclosure statement.

Betting Horse Racing Spread Nevertheless, Lugar has a somewhat different take on farm programs than many of his colleagues. He has often criticized farm subsidies for distorting markets by encouraging overproduction and driving prices lower in a self-perpetuating cycle. He participates in the programs because he could not continue to grow corn and soybeans without them and because he wants to understand how they work, said his spokesman, Andy Fisher.

Complete Guide Spread Trading "Senator Lugar has always been shocked that there has not been more outrage over the large costs of the farm program," Fisher said.

Sport Spread Betting By John Lancaster
Washington Post - 9/1/2001

Topic: Congress

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