But wait! Did anyone hear about rumors of milk doubling price per gallon -- the so called "milk cliff?"
Milk Prices May Spike To $8 Per Gallon Without 'Dairy Cliff' Solution
WASHINGTON, Dec 21 (Reuters) - Alarm about an arcane provision that could send U.S. milk prices at the grocery store soaring, hurting millions of American households, has spurred calls for last-minute action on farm legislation that has been languishing for months.
Congressional negotiators on a new five-year farm bill are deadlocked on the size of potential cuts in food stamps for the poor, the largest U.S. anti-hunger program, and on reductions in crop subsidies to farmers.
But it is the dairy element, and the threat of retail milk prices jumping to $6 or $8 a gallon from the current average of closer to $3.60, that has triggered urgent calls for action.
"The nation, including Vermont dairy farmers, incredibly enough now are on the verge of plunging over the dairy cliff," Democratic Senator Patrick Leahy, from the New England state known for its cheese and ice cream production, said on Friday.
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