Why the Price of Milk is About to Increase
Posted at 11:58 a.m. on Dec. 31, 2012
The Wall Street Journal explains why the price of milk is set to skyrocket shortly after January 1 in what has been dubbed the “dairy cliff.”
“Instead of Americans enjoying a bounty after the clock runs out, federal farm policy will automatically revert to a farm bill drawn up in 1949. That will compel the Department of Agriculture to roughly double the price supports for dairy and other farm products.”
“The USDA could burn through billions of tax dollars buying up dairy products that are unwanted at exorbitant prices.”
