Word: meats
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Dates: during 1970-1979
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...general assembly to impose a tax freeze in Illinois; it is hoped that the move will become a rallying point for the taxpayers. "The crisis has come," says Robert Creamer, CAP coordinator. "The solution now is to quit tinkering with the system. We've got to use a meat cleaver instead...
Shortages account for the immediate jump in farm goods. Agriculture Secretary, Earl Butz and other farm spokesmen, argue that America's increasing appetite for meat and other farm products has kicked up prices. On the other hand, many economists contend that the Government's elaborate price-support policies have contributed substantially to high food costs. Thus, the controversy over food prices, which will be a prime campaign issue, is also likely to bring into question the whole program of subsidies to agriculture...
...from $3.3 billion last year. Just to get corn production down, the Government will hand out a record $1.9 billion for feed grains this year. Moreover, price supports for corn raise the costs of feed for ranchers, who in turn produce less livestock and thus cause the price of meat to rise. In 1970, Congress limited each farm to a subsidy of $55,000 per crop. Some big farmers divided their large holdings into smaller units, each eligible for a separate subsidy...
...subsidies, together with the higher prices that farmers are getting for their goods, especially meat, will lift farm income this year by 10% to 15%. Farmers argue that these increases are justified by their rising expenses for labor, machinery, fertilizer and taxes. Yet, as Price Commission Chairman C. Jackson Grayson observes, inflation also burdens other segments of society; if inflation is to be checked, farmers, too, must sacrifice...
...consumer prices leaped 23% on an annual basis, but there is relief ahead. Presaging a downward trend in living costs, the wholesale price index in March rose a modest .1%, and food prices declined .4%. So far, most of the upward press has come from soaring food costs, especially meat, which is all but exempt from controls. Food costs are likely to dip somewhat in the near future, mostly because normal farm production cycles will ease shortages. But in the fall, the same cycle of supply and demand is also likely to send prices up again...