the work all right, you did not spend any time at all on christmas day or the day after thinking about the farm bill. if you did, maybe we can be friends, because you and i we get along, we know what is up. the farm bill is a big deal. not just a policy to farmers, but to people who purchase and eat food. particularly if you purchase any dairy products which may skyrocket in price. we re talking $7 milk here, people. which is why you may want to pay attention to tonight s challenge. can we in two minutes or less, explain the farm bill and why it might totally mess up your grocery bill? can we get the clock? we have the clock. all right. here we go, the farm bill covers billions of dollars in farm programs. america needs a stable farm economy, which we currently kind of have. congress always passes a farm bill or renews one that is in effect. they do it, because if they don t do it, the farm legislation lapses and we revert to farm laws between 1938 and
legislation lapses and we revert to farm laws between 1938 and 39. the house has not even voted on its version. congress doing nothing about even the stuff everyone is paying attention to, not to mention being famously not in session, it seems highly unlikely the house is going to get it done in time. so what? here s what, in one example. if there is no new farm bill six days from now, the government will have to abide by the provisions of a 19 49d law regarding milk. that would require them to buy milk from dairy farmers at hugely inflated prices. if that law takes effect again in 2013, the government will be forced to pay double what it currently pays for milk. for a short time it will be awesome for dairy farmers, they can sell as much milk as they can to make a ton of money. even dairy farmers know that the windfall will be bad news real quick. the government run on milk will lead to shortages for people who buy milk at the grocery store or
effect. they do it, because if they don t do it, the farm legislation lapses and we revert to farm laws between 1938 and 39. the house has not even voted on its version. congress doing nothing about even the stuff everyone is paying attention to, not to mention being famously not in session, it seems highly unlikely the house is going to get it done in time. so what? here s what, in one example. if there is no new farm bill six days from now, the government will have to abide by the provisions of a 19 49d law regarding milk. that would require them to buy milk from dairy farmers at hugely inflated prices. if that law takes effect again in 2013, the government will be forced to pay double what it currently pays for milk. for a short time it will be awesome for dairy farmers, they can sell as much milk as they can to make a ton of money.