Agriculture: Nailed for a Billion-Dollar Loss

Like the Secret Service guards and the White House itself, the farm problem comes with the job of being President. Last February, President John Kennedy began trying his hand at solving the farm fiasco with a complex feed-grain program—and by last week, as Agriculture Department experts studied the first solid returns on the 1961 crop, it was obvious that Kennedy, like most of his predecessors, had only succeeded in making matters worse.

Kennedy's program set out to grapple with the fact that U.S. farmers constantly overproduce feed grains—particularly corn—thereby causing prices to fall and Government surplus stockpiles to bulge. To...

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