Obama’s Going To Make It Rain (Money) To Stave Off Drought And Food Shortages

By International Business Times,  August 11, 2012, 04:39:14 PM EDT

U.S. President Barack Obama is going to make it rain money to ensure the nation's livestock get enough water and to fight rising food prices during one of the country's worst droughts in half a century.

The president addressed the nation Saturday to outline the federal government's response to the drought. July was the hottest month on record, and one-fifth of the country is suffering from extreme or exceptional drought conditions, Obama said. He added that the feds had set aside an additional $30 million in drought aid for farmers and ranchers.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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