Here’s another apocalyptic cut from the disastrous sequester:
The U.S. Department of Agriculture is considering buying 400,000 tons of sugar—enough for 142 billion Hershey’s Kisses—to stave off a wave of defaults by sugar processors that borrowed $862 million under a government price-support program.
The action aims to prop up tumbling US sugar prices, which have fallen 18% since the USDA made the nine-month operations-financing loans beginning in October.
As Defending Enterprise puts it, a bailout of a bailout.
Did I say sequester outcome? Oh, wait….