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re: OT: Anybody think Abrams has a shot against Kemp?
Posted on 7/27/18 at 9:42 am to Jefferson Dawg
Posted on 7/27/18 at 9:42 am to Jefferson Dawg
The news about the farmers/Agg "bailout" has been very misrepresented.
First of all, our government has been giving around $20 BILLION PER YEAR in subsidies to our farmers for a long while.
When final subsidy numbers come out, they're not going to show us giving our farmers/Agg $32 billion ($20B norm + $12B bailout). They're still going to show around $20 billion. Meaning this "bailout" was nothing more than a PR stunt claiming credit for something that was already going to happen, tariffs or no tariffs.
Which is actually a smart move by Trump and Purdue, IMO.
Second, this soybean "retaliation" from China wasn't really a retaliation. China already stated in 2016 they planned to buy less of our soybeans because they struck a deal with Brazil who has a more friendly currency exchange as the Real has dropped in value against the Dollar quite significantly.
LINK
First of all, our government has been giving around $20 BILLION PER YEAR in subsidies to our farmers for a long while.
quote:
LINK
The federal government spends more than $20 billion a year on subsidies for farm businesses. About 39 percent of the nation's 2.1 million farms receive subsidies, with the lion's share of the handouts going to the largest producers of corn, soybeans, wheat, cotton, and rice.1
The government protects farmers against fluctuations in prices, revenues, and yields. It subsidizes their conservation efforts, insurance coverage, marketing, export sales, research, and other activities. Federal aid for crop farmers is deep and comprehensive.
When final subsidy numbers come out, they're not going to show us giving our farmers/Agg $32 billion ($20B norm + $12B bailout). They're still going to show around $20 billion. Meaning this "bailout" was nothing more than a PR stunt claiming credit for something that was already going to happen, tariffs or no tariffs.
Which is actually a smart move by Trump and Purdue, IMO.
Second, this soybean "retaliation" from China wasn't really a retaliation. China already stated in 2016 they planned to buy less of our soybeans because they struck a deal with Brazil who has a more friendly currency exchange as the Real has dropped in value against the Dollar quite significantly.
LINK
This post was edited on 7/27/18 at 9:44 am
1
Posted on 7/27/18 at 10:32 am to BeefDawg
quote:
When final subsidy numbers come out, they're not going to show us giving our farmers/Agg $32 billion ($20B norm + $12B bailout). They're still going to show around $20 billion. Meaning this "bailout" was nothing more than a PR stunt claiming credit for something that was already going to happen, tariffs or no tariffs.
Not necessarily disagreeing, but is there any link that you've seen that confirms this? The only way I'd seen it reported is as "additional 12B"... of course, that does imply that "reporting" is accurate.
Also, not sure if the 20B number may be specifically referencing more recent figures, but CRS shows over the past 20 years, we've averaged about 16B in farm subsidies annually FWIW.
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