Pecos Enterprise in Pecos, Texas

Politicians hoax on housewives over food costs

In a Vail Colorado gathering of food-industry leaders, Michael J O'Connor argues both parties attack food prices to gain votes as he cites USDA and Commerce figures showing American housewives spent 12.5 percent of after-tax income on home food in 1971, far lower than rival nations. He says meat and beef costs rise due to producer losses, land values, and government bans on growth additives, while supermarkets endure 0.9 percent after-tax profit over a decade amid price-gouging accusations.