As average citizens of the 7th Congressional District struggle with today’s financial mess, including home foreclosure, health care costs, and job loss, Congressman Collin Peterson focuses his attention on continued government support for the district’s financial elite – its farmers – who, even with record income over the last four years, still receive annual government subsidy checks, plus an even bigger perk of subsidized crop insurance.
Taxpayers have a right to know how Congress has lavished the American farmer with federal crop insurance premium subsidies totaling $5.410 billion for the 2009 crop, paying about 60 percent of the farmers’ premiums, while providing huge “administrative margins” and “underwriting gains” of $5.262 billion in crop year 2008 for their insurance company friends and agents.
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