The most recently proposed $60 billion a year (with a “b”) federal farm bill is especially nice to cotton farmers. The bill will cost $288 billion over its life and allow cotton farming families with $1.5 million in income to receive federal subsidies for growing cotton.

The farmers’ victory may be short-lived, however. President Bush plans to veto the bill because it doesn’t go far enough to limit crop subsidies to wealthy farmers, according to Agriculture Secretary Ed Schafer.

“This legislation lacks meaningful farm program reform and expands the size and scope of government,” Schafer said, adding that the president has been “direct and plain” to him that he plans a veto.

I wish he would just veto it because it’s a new farm bill. I find it particularly disturbing because these anti-free trade bills often have the support of many Republicans. These subsidies are combined with trade barriers so that domestic agriculture is artificially lowered while imported agriculture is artificially raised. The net result is higher prices for American consumers, more debt for American taxpayers, and unnecessary loss of business for farmers in developing nations.

I could go on all day about this stuff. Alabama’s Congressional delegation will probably vote for it.