President Biden who probably hasn’t gone grocery shopping for at least a decade tried to lecture Americans about food prices and demonize meat processing companies.
“Four big corporations control more than half the markets in beef, pork & poultry. These middlemen, that they buy from, farmers & ranchers, & sell the processors. Excuse me sell the process — excuse me sell the processed product, to grocery stores. That’s the way it works,” Biden said.
The meat industry is consolidated specifically because the federal gov’t overregulates it. Ask any farmer. As one of many examples, ranchers can’t slaughter their own meat due to @USDA regs.
As usual, Democrats blame the private sector for problems of their own creation. https://t.co/xEfQjdSiHz
— Tom Elliott (@tomselliott) January 3, 2022
Four large meat-packing companies control 85% of the beef market. In poultry, the top four processing firms control 54% of the market. And in pork, the top four processing firms control about 70% of the market,” Biden said. “When dominant middlemen control so much of the supply chain, they can increase their own profits at the expense of both farmers — who make less — and consumers, who pay more.”
What Joe didn’t tell you is that four companies control 85% of the beef market because of government regulation.
So what is Joe going to do after demonizing them? He’s going to print more money and give it to the same companies he demonized.
President Biden’s plan to support the meat and poultry supply chain includes $375 million in grants from the Department of Agriculture for independent processing plants:
$275 million to provide loans and other support “to businesses at rates and on terms that increase access to long-term, affordable capital,” the White House said.
$100 million to train the meat and poultry workforce.
$100 million to finance infrastructure needed by independent producers to “move their product throughout the supply chain.”
$100 million to help “small and very small processing plants keep up with unprecedented demand” by reducing inspection costs.
Biden seems to think printing more money is going to lower costs.