Subsidies for rich farmers are ‘prime example of waste’

Include President-elect Barack Obama among those concerned that millionaire farmers are getting federal subsidies. A Government Accountability Office report issued Monday said that, between 2003 and 2006, $49 million in subsidies went to farmers who made more than the $2.5 million gross income cutoff. Obama cited the report Tuesday and said that “if it’s true, it’s a prime example of waste.” But the Washington Post’s Ticker blog was skeptical that Obama could do anything, noting that many other presidents have tried and failed to curb farm subsidies. “To the president-elect, we say: Good luck with that,” the blog said. “Let us know how it works out for you.”