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Government Meddling in Markets

Floor Speech

Date: March 3, 2009
Location: Washington, DC
Issues: Agriculture and Food

GOVERNMENT MEDDLING IN MARKETS -- (House of Representatives - March 03, 2009)

(Mr. FLEMING asked and was given permission to address the House for 1 minute.)

Mr. FLEMING. Mr. Speaker, last week, the Pilgrim's Pride Poultry Company announced the closing of three chicken processing operations throughout the southeastern United States.

In and around my district in North Louisiana, 1,300 jobs were lost. It is important for the American public to know why and how these jobs were lost. In addition to the decline in consumer protein demand, Pilgrim's Pride was most affected by high feed prices causing a loss in the last year of over $1 billion, forcing them into bankruptcy.

The main cause of these high prices was Federal mandates to increase the use of ethanol. This large spike in corn prices is being felt throughout the country by consumers and producers alike. Is this a foreshadowing of more disasters to come because of the governmental manipulation of the energy markets?

Just like the mortgage debacle, governmental meddling in markets continues hurting the working family, both directly and indirectly.


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