JUST THINK OF ALL THOSE SUGARY DRINKS THAT FILL THE STORE SHELVES.......... The program that supports the American sugar industry has many facets. Most infamous is a subsidy program in which the U.S. Department of Agriculture gives loans to sugar farmers and allows them to repay those loans with raw sugar if sugar prices fall below 20.9 cents per pound. This program functions as an effective mass purchase of sugar, which drives up prices for consumers and thus doubly subsidizes the industry. The USDA then sells this sugar at a steeply discounted price to ethanol producers. Last year the USDA spent $53.3 million on the program. Including the loans that could not be repaid, the government spent $171.5 million.
Posted on: Mon, 05 Jan 2015 04:55:57 +0000
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