The latest proposal for the farm bill — the law governing everything from food stamps to rural development grants — is being considered by the U.S. Senate this week. It's designed to save more than $23 billion over the next 10 years, in part by getting rid of direct payments to farmers. The direct payment program alone costs taxpayers $5 billion per year.
Originally published on Wed June 13, 2012 10:49 am
If you think only farmers care about the farm bill currently being considered by Congress, you're very, very mistaken.
The measure will not only set policy and spending for the nation's farms for years to come, but it will also affect dozens of other seemingly unrelated programs — all at a cost of nearly $1 trillion over the next decade. Following are a few questions and answers about the massive legislation:
Why is it called the farm bill, and where did it come from?
Baseball historians continue to poke around in the 19th century to better explain how the game was originated and developed, but I've always wondered if one of the prime movers wasn't a student of Shakespeare.
While I certainly don't know the terminology of all ball games, the popular ones I'm aware of — everything from basketball and football to golf and tennis — all use some variations of the words in and out when determining whether the ball is playable.
Only baseball is different.
"Fair is foul and foul is fair; Hover through the fog and filthy air."
The big story of this year's election campaign is big money. Since the Supreme Court, through its Citizens United ruling, has made it easier for corporations, unions and rich individuals to raise and spend unlimited amounts of money, Republicans have seized the advantage.
Right now, an analysis by NPR finds that Republican allied groups are outspending their Democratic counterparts by 8 to 1.
"This portfolio morphed into something that, rather than protect the firm, created new and potentially larger risks. As a result, we have let a lot of people down, and we are sorry for it."
That's part of JPMorgan Chase President and CEO Jamie Dimon will tell the Senate's Committee on Banking, Housing and Urban Affairs tomorrow, when it looks into the botched trades that lost the bank $2 billion. Chase released Dimon's prepared remarks this afternoon.
Federal authorities arrested seven people, today, in connection with what authorities say was a multi-million dollar money laundering operation run by Mexican drug cartel Los Zetas.
The scheme allegedly used the millions earned through the illicit drug trade to purchase, train, breed and race American quarter horses in the United States. The Department of Justice said 14 had been indicted; among them is Zetas leader Miguel Ángel Treviño Morales and his brothers Oscar Omar Treviño Morales and José Treviño-Morales.