The Cost of Farm Programs

Is down and likely will continue down, given last Friday's crop report (cutting corn production and carryover, with cotton still at a buck).  See this graph (average of about $12 billion for the last four years).  Cato back in 2002 predicted the 2002 farm bill would cost at least $170 billion over 10 years.  So much for predicting the future. (Which isn't to say that the various programs can't be challenged and shouldn't be reformed or dropped, just that foreseeing the future is difficult.