Unless market prices rose well above that level, farmers could also get subsidies known as deficiency payments.

Regular deficiency payments could then amount to about $69,000.

Any new legislation, he said, also should forgive all advanced deficiency payments.

With these "deficiency payments," farmers are assured of a certain income and can obtain the loans they need to stay in business.

Next, they receive direct "deficiency payments" to make up most of the difference between the loan rate and the target price.

But the same bounty has driven prices paid to farmers so far below Government support price targets that deficiency payments will soar.

Target prices and deficiency payments, authorized in the 1973 farm bill, were eliminated.

Additionally, idled acres did not earn deficiency payments, thus reducing commodity program costs.

Another drawback is that the premium is based on deficiency payments.

We find the new system better than the old system, which was more or less a system of deficiency payments.