SpeculationI lost money last week on my investments when the stock market went south. Should I apply for federal compensation?
Richmond Times-Dispatch editorial
Officials in Southwest Virginia have asked Gov. Tim Kaine for disaster assistance so farmers can cope with the loss of crops they have endured. Corn and hay have been hit by lack of rain. It's a tough situation to be in.
But is it something cab drivers in New York or waitresses in Seattle should have to pay for?
The farmers want Kaine to ask Washington for federal assistance. Already, federal aid will help them make up for the loss of crops and feed during the previous two years. But why should Washington bail out farmers?
Disasters like Katrina happen rarely. "Disasters" in farming happen regularly: three years in a row, in Southwest Virginia. That's something farmers should plan for -- not something the federal government should pay for. (link)
I invest in stocks. Farmers invest in their crops. We gamble on success. Sometimes we win, sometimes we lose.
Key word being we.