To protect ethanol, Obama seeks to inflate meat prices
Campaigning in Missouri Valley, Iowa, yesterday, President Obama announced yet another government spending program -- this time designed to inflate meat prices in Midwest swing states. "Today the Department of Agriculture announced that it will buy up to $100 million worth of pork products, $50 million worth of chicken, and $20 million worth of lamb and farm-raised catfish," Obama explained to reporters in front of a drought-stricken cornfield.
On a related note: Price of Ground Beef Hits Record High
The average price of ground beef hit a record high in the United States in July, according to data released Wednesday by the Bureau of Labor Statistics.
The BLS has been tracking the average price of a pound of 100% ground beef since 1984. In July, it cost $3.085, up from $3.007 in June.
Prior to June, the average cost of 100% ground beef in the United States had never topped $3.00.
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