Crop insurance baseline spending cuts are to occur over several years and come from a 10 percent reduction in all policies containing a “harvest price option” and from reforms to coverage for prevented planting that have been previously proposed.The White House released President Obama’s FY 2017 budget proposal today. The plan calls for $3.95 trillion in spending and estimates $3.33 trillion in revenues, which would lower the deficit from an estimated $615 billion in 2016 to $503 billion in 2017. Both projections are greater than the $438 billion deficit recorded in 2015.The fiscal blueprint is based on the assumption that real gross domestic product (GDP) will grow at a 2.6 percent rate in 2016, which on a year-over-year basis is both slig...

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