Politico published an article on farm subsidies the US government makes to US farmers have surged to historic levels under President Donald Trump as the Agriculture Department floods the industry with cash to stem the financial losses from Trump’s tariff fights and the coronavirus pandemic. Experts wonder what happens to US farmers if those subsidies don’t continue? Senior Research Fellow Joseph Glauber said, “The bigger question is, if you’re spending all this money, how do you wean yourself off it?” “It’s hard rolling back these things. The headlines are going to scream when [USDA] puts out a February 2021 farm income forecast that doesn’t show any ad hoc payments. Those will be ripped out of the balance sheet.” Republished in South China Morning Post, Newsmax.
‘Here’s your check’: Donald Trump’s farm bailouts could leave a wicked hangover (Politico)
July 13, 2020