What Will You Do If the Price of Milk Goes to $8 a Gallon?

Got milk? Enjoy it now, because the "Dairy Cliff" of 2013 is coming if Congress can't find something to replace the Farm Bill in the next four days.

Stories all over the place indicate that the price of milk could go to as high as $8 a gallon if Congress doesn't get its act together.

The Washington Post Wonkblog (we are not making that last word up) explains that the Farm Bill is set to expire on Dec. 31. Apparently, if new legistlation isn't passed, the default legislation is a government dairy price subsidy—established in 1949—that required the Agriculture Department to purchase milk at inflated prices.

A Today Show report interviewed farmers, one of whom said he'd be happy with the higher income in the short term, but it would kill farmers in the long run. "What am I going to do with all this milk?" he asked.

CNN Money reports that the average price for a gallon of milk is $3.65 nationwide. And the government would be required to buy milk at double the going rate, so we we're looking at roughly $7.30 a gallon.

What do you think? Will you buy milk if it goes that high? What about families with young kids who drink a LOT of milk?

Also: Is this nuts, or what?

Let us know your thoughts in the comments section. 

Patrick Shane December 28, 2012 at 04:28 PM
Pass the farm bill! http://www.youtube.com/watch?v=HTudILWFj94
JsP December 28, 2012 at 09:18 PM
I guess I'll stop doing this https://www.youtube.com/watch?v=3l_KRd9ZMbM darn it
Karen Nickels December 29, 2012 at 03:41 PM
Pass the bill! We already pay double for other groceries. I'm amased that my grocery bill is double of what it used to be last year. We need to eat and drink. Don't take that away from middle class people.....PASS THE BILL!


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