Cows Near the Cliff?
We've been hearing plenty about the looming deadline for the "fiscal cliff" and American's are hoping we can avoid that free fall into unstructured tax brackets and piles of red-tape April 15th tax deadline day. Now, it appears our lovable dairy cattle are caught in a "cliff" of their own.
Not exactly "just in"...in fact, 67 years ago things changed on the milk scene. Thanks, in part, to a 1945 law that would require the government to buy up milk until the price was inflated to nearly double the regular price.
Basically, the inflated price tag would spur dairy farmers to sell to the government instead of the commercial market. That would lead to shortages that would push milk prices as high as $6 to $8 a gallon.
Now, The House and Senate Agricultural committees have begun feverishly drafting legislation to avoid a spike in milk prices. A short-term extension of 37 agricultural provisions will, we hope, rescue us from what's being called the "milk cliff."
$8 for a gallon of milk would not bode well for breakfast lovers. Water over the kids' Cinnamon Toast Crunch would not be a big hit.