The $290 Million Dairy Bailout

Despite a big cull in dairy herds this year, the economics underlying the dairy industry still stink. Earlier in 2009, each cow in Wisconsin was losing something like $100 a month.

So it’s the USDA to the rescue once again with taxpayer money, this time to the tune of $290 million. That’s money that could be spent on teachers, or high speed rail, or any number of socially beneficial things—all of it going down a rathole, to prop up an industry that’s screwed regardless.

And all of this is on top of massive price supports the dairy industry received a year ago. Link.