lectur3-page10

lectur3-page10 - mandated target price. These programs are...

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Government spending also includes what are known as transfer payments to individuals such as unemployment compensation benefits, welfare and food stamp programs, social security, medicare, and medicaid benefits, and farm price support programs. Under old Farm Bills, many farmers qualified for “deficiency payments” if the market price of the commodities they sold were below a government
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Unformatted text preview: mandated target price. These programs are now being phased out under the new Farm Bill. During the phase out period, many crop producers are receiving Farm Program Transition Payments to allow them to adjust to a more marke oriented Program Transition Payments to allow them to adjust to a more market-oriented agricultural production system 10...
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