One of the things that might happen if the fiscal cliff negotiations fail is milk prices jumping up in price and perhaps even doubling. That is because the arcane 1949 law that over regulated milk prices would kick in.
|We need to reduce federal involvement in agriculture and ranching...|
CHARLES KRAUTHAMMER: "I do think if we went over the milk cliff it would actually be a good idea. [If] people actually saw the milk price double, it would be less abstract than watching a debt clock. They would finally understand that we have the insane laws, that acquire barnacles over the decades. And the farm laws are the worst. They are all kind of pressure, special interest favors, pay offs which make no economic sense. I'd like to wipe them out and start all over again, and it would be good if the law expired. People would actually be awakened to how insane our system is and how much we really need tax reform. It wouldn't be an abstraction, it would be real."We need to allow market forces determine prices, not complex layers of government bureaucracy.