Normally, I would agree, but I must disagree in this case. The vast majority of people in the U.S. are science-illiterate and easily swayed by sensational headlines (For example, last week slashdot posted a story on how the background radiation in Fukushima is less than that of Denver, yet people panic over radiation exposure in Japan, but not Colorado.). I worry that a similar backlash against GM crops could negatively affect the world's food supply.
While we can disparage crops that have been crafted to withstand copious amounts of insecticide, please keep in mind that there are 7 billion people on the planet, and all of them need to be fed. Much of the world depends upon the United States' agricultural output. GM helps boost this output. While the American consumer can withstand a few cents increase in cost due to decreased food supply, the same increase can trigger food riots in less fortunate countries. If the United States' agricultural output is enhanced by GM, then I'm all for it. I worry that shunning GM food in the US could hurt further investment/development.