$40 Mil Bailout For Chicken Industry.

Because corporations can’t be held accountable for irresponsible business practices, the US government has issued yet another corporate bailout, this time for the chicken industry.

The industry predicted their market would grow in 2010-11 so they bred and killed more chickens in anticipation. Their market predictions were wrong. Instead of growing, demand for chicken meat declined by 6% leaving the industry holding millions of pounds of wasted meat. With excess supply and low demand, chicken prices are falling and the industry is struggling to make a profit. Some producers are selling chickens so cheap they only can break even. Boo hoo.

The US government is here to wipe the corporate tears and wants consumers to have to pay more for chicken so that the industry can turn a profit. They stepped in and bought $40 million worth of surplus chicken setting the stage for retail prices to rise along with chicken producer’s profits. 

This is really nothing new. The US government bailed the chicken industry out in 2008 and 2010. More rewards for bad corporate behavior.

Whoever thought something like chicken nuggets would be “too big to fail.”