Another Failed Government Farm Policy

The US government is being forced to support sugar companies even though taxpayers are already footing a $280 million bill stemming from loans the companies can’t repay.

The loans are all part of the Feds’ farm policy of propping up sugar prices.  So 300 million American sugar consumers can pay artificially high prices to benefit a few sugar farmers.

All told, Alexandra Wexler wrote in her Wall Street Journal article at the above link,

processors defaulted on $171.5 million in 2013, even after the USDA spent $106.7 million buying sugar to boost prices.

Wexler quite properly decries the matter, but she lays it off to a government problem.  No.  This failure, and these bankruptcies, in fact aren’t costing the US government anything, and the US government isn’t at all being “forced to support sugar companies.”  This failure is costing American citizens—us taxpayers—those of us who fund the government—all this money.  This failure is a part of we American citizens’ being “forced to support sugar companies.”

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