Tuesday, July 24, 2018
But like the wall, they will pay for it
Having slashed taxes for the 1% and their corporations, one has to ask where Cheeto Mussolini will get the $12 Billion to pay his Bribe To Farmers for going along with his destructive tariff. Some will come from most farmers who don't get tax breaks and the rest will be paid by the next generation who are already looking at the massive debt load Donny and His GOP Stooges are using to fatally weaken the US for his boss Putin.
The Trump administration on Tuesday will announce up to $12 billion in emergency relief for farmers hurt by the president’s trade war, according to two people familiar with the plans, in an effort to insulate food producers from looming financial losses that would be a direct result of President Trump’s policies.Golden Crutches. What an elegant way to describe a disastrous short term solution to a self created long term problem. Will Trump put his name on the next farm depression?
The aid to farmers, to be announced by the United States Department of Agriculture, would come through a direct assistance program, one designed to help with food purchase and distribution, and one specifically geared toward promoting trade, according to one of the people. Both spoke on condition of anonymity because they did not have authorization to pre-empt a planned announcement later Tuesday.
The move is an indication that Mr. Trump — ignoring the concerns of farmers, their representatives in Congress, and even some of his own aides about the adverse consequences of a trade war he says he relishes — plans to plow forward in escalating his tariff tit-for-tat around the world. The approach could cost American producers billions of dollars, and potentially inflict political pain on Republicans in farm states who would be forced to answer for the policies of a president who has shown little regard for the consequences of his trade agenda.
Mr. Trump and his advisers have argued that while American producers may feel short-term pain from his protectionist stance, ultimately they will benefit from it. In the meantime, the administration has sought ways for the Agriculture Department to help farmers sustain the negative consequences. As part of the program to be announced on Tuesday, the department is expected to draw on the financial resources of a program known as the Commodity Credit Corporation, which helps shore up American farmers by buying their crops.
The initiative, which would not authorize any new money and thus not need approval from Congress, was a way for Mr. Trump to tamp down on criticism of his trade policies. But it was also an unmistakable signal that the president has no plans to lift his tariffs any time soon, as senators from across the Farm Belt have pleaded with him to do.
“This trade war is cutting the legs out from under farmers and White House’s ‘plan’ is to spend $12 billion on gold crutches,” Senator Ben Sasse of Nebraska. “This administration’s tariffs and bailouts aren’t going to make America great again, they’re just going to make it 1929 again.”
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