Congressional chatter about cutting the $72 billion Federal budget has so far centered on defense, foreign-aid, schools and health-and-welfare expenditures. Last week in Houston one of the nation's biggest cotton men, Lamar Fleming Jr., board chairman of Anderson, Clayton &
Co., world's largest private cotton dealer, suggested another place where Congress might apply its shears: the huge $5 billion farm-subsidy program. Says Fleming, noting that federal farm programs this year may total 42% of net farm income: "I believe a time has come when thoughtful cotton growers will come to the conclusion that a business which depends on Government support,...
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