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Mon Dec 2, 2019, 09:37 PM

Trump Farm Bailout Costs More Than Double The Auto Bailout That GOP Slammed



By Emily Singer -December 2, 20191

Trump has spent $28 billion bailing out farmers who were hurt by his trade war — nearly double the Obama-era auto bailout Republicans panned.

Bloomberg News reported that Donald Trump's trade war has now cost American taxpayers at least $28 billion in bailouts to famers — whom Trump has sought to appease after his tariffs on China led to steep losses in the farming industry.

That $28 billion is more than double the $12 billion that the auto industry bailout ultimately cost taxpayers back in 2008 and 2009, when the Great Recession threatened to sink American auto giants General Motors and Chrysler.

Republicans panned that bailout, saying that "free market" principles should have let the American auto makers to go under — taking with them thousands of manufacturing jobs from the kinds of blue-collar workers Trump has courted.

"Unless Chrysler, Ford, and General Motors become lean and innovative and competitive in the market place, this is only delaying their funeral," Sen. Richard Shelby (R-AL) said at the time. Shelby, however, supports farm subsidies.

However, Republicans haven't put up a fuss to Trump's farm subsidies — which, unlike the auto bailout, do not include provisions that they be paid back to the Treasury.

Instead, they are merely an effort to stave off losses for farmers, who have taken a massive hit after China stopped buying billions of dollars worth of pork, soybean, and other American crops, thanks to the trade war Trump started with the economic giant.

And there is no sign of the farm bailouts ending, as Trump's trade war with China marches on.

Most of the subsidy payments are going to larger farms, according to Bloomberg.

More...

https://americanindependent.com/donald-trump-farming-bailouts-trade-war-china-barack-obama-auto-industry-cars/

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Response to RCW2014 (Original post)

Mon Dec 2, 2019, 10:08 PM

1. The Obama Era auto bailout was the one that George W Bush signed, right?

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Response to DavesNotHere (Reply #1)

Mon Dec 2, 2019, 10:11 PM

2. Only when convenient...right?

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Response to RCW2014 (Reply #2)

Mon Dec 2, 2019, 10:27 PM

5. As far as Im concerned, facts dont change.

Last edited Mon Dec 2, 2019, 10:59 PM - Edit history (1)

Hey, I wasn’t the one suggesting that this was Obama’s bailout.

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Response to DavesNotHere (Reply #5)

Mon Dec 2, 2019, 11:00 PM

7. Bush initiated the bailout and Obama added on. Both deserve the credit for it...

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Response to RCW2014 (Reply #7)

Tue Dec 3, 2019, 12:25 AM

10. That is correct. I just had to look it up.

Bush provided $13.4 billion immediately with an additional $4 billion to come in February. I didn’t realize this, but when Feb 2009 came around, instead of that $4 billion that Bush promised, Obama provided an additional $21 billion. I had thought the second payment was part of the Bush bill, but there must have been new legislation to get the additional money, and Obama gets the credit for that (or blame, depending on how one looks at it)

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Response to RCW2014 (Original post)

Mon Dec 2, 2019, 10:15 PM

3. Eat a bumper

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Response to Badsamm (Reply #3)

Mon Dec 2, 2019, 10:17 PM

4. Haul your crop to market with a mule and wagon.

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Response to Badsamm (Reply #3)

Tue Dec 3, 2019, 12:18 AM

9. ".....Eat a bumper....."

This was alerted on.

There's nothing in the rules against offering dietary advice to another member.

No violation, no hide.

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Response to imwithfred (Reply #9)

Wed Dec 4, 2019, 02:20 AM

16. In that case, you know what YOU can eat.....

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Response to JohnPoet (Reply #16)

Wed Dec 4, 2019, 02:25 AM

17. Hmmm, rather sour tonight, during this season of cheer and goodwill.

Anything I can do to uplift your spirits, your mood?

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Response to RCW2014 (Original post)

Mon Dec 2, 2019, 10:49 PM

6. Apples and orangutans

The two have nothing in common.

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Response to foia (Reply #6)

Mon Dec 2, 2019, 11:02 PM

8. Thats true. Saving the US auto industry have put thousands more to work than the

farm bailout ever could...

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Response to RCW2014 (Reply #8)

Tue Dec 3, 2019, 02:35 AM

11. But saving U.S. farmers would feed more people, keep them alive,

than all the automotive workers put together.

True, vehicles and transportation are important, but I wouldn't say they're more important than, or as important as, full stomachs and healthy bodies.

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Response to RCW2014 (Reply #8)

Tue Dec 3, 2019, 11:28 AM

14. But let all the farmers go bankrupt

and all them auto workers won't be able to buy much food!

I will take one farmer with 10,000 acres for a bail out than 10,000 auto workers for one company any day!

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Response to RCW2014 (Original post)

Tue Dec 3, 2019, 02:40 AM

12. You're from Michigan.

It's true that Michigan is a major agricultural state.

But among their Islamacist farmers surely they raise only figs and opium; they'd probably have no idea how to raise wheat or cattle.

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Response to RCW2014 (Original post)

Tue Dec 3, 2019, 11:26 AM

13. Emily should check her facts!

$28 billion has been appropriated but not all spent. Only about half.

China decided to not buy Farm goods. Trump did not refuse them, they refused to buy in retaliation. Which has only hurt their people.

And less than half of the money is because of China. Most of the money is because of the horrendous crop losses due to the Grand Solar Minimum and the weather that has destroyed crops in te spring and has reduced this years harvest as well as causing billions in losses due to the rainy spring!

When an auto company goes out of business- people will buy other brands of cars!
When a farmer goes out of business- there is less food to go around!

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Response to RCW2014 (Original post)

Tue Dec 3, 2019, 12:15 PM

15. It's hard to eat a car, and they're not particularly nutritious either.

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