Barely a week ago, I was blogging about the US government’s chicken bailout. And now, the other shoe has dropped. Milk prices are way, way down, so the government is buying millions and millions of pounds of dried milk.
Unlike the banking industry or even the auto industry, it’s hard to make an argument that bankruptcies in the dairy industry will torpedo the U.S. economy. This is simply a handout, happening at a time when government money is urgently needed elsewhere. Link.