There aren't any GM projects aimed at making food cheaper, dead0man.
Nor is there any reason (stupid scare stories from years ago aside) to believe it directly dangerous for humans.
Anything done to increase yield per acre (or whatever) makes food cheaper. If Monsanto makes their corn bigger and less likely to be eaten by bugs, they are going to get a lot more corn per area planted. Monsanto is going to make more money because they can sell their seed at a higher price, and the farmer will gladly pay that if he knows it's going to result in the farmer getting a lot more corn than he usually does. If a lot of farmers make the change, there will be TONS of more corn on the market. That makes corn cheaper. That makes your Fruit Loops cheaper. That means more poor people can get more food/have more money to spend on other things.
I agree with you that Monsanto doesn't do this to make corn cheaper, they do it to make money. The side benifit is cheaper corn though. Henry Ford didn't use the assembly line to make cars cheaper to sell, he did it because it made the cars cheaper to
make.