Tuesday, November 09, 2010

This Should Cheer Us Up

According to NPR, trade courts have found the US guilty of illegally subsidizing our cotton farmers. Brazilian cotton farmers sued over the violation of our trade agreements, and Brazil threatened retailiation against a wide array of important American exporters.

Cotton subsidies, it seems, were too sacred to be dropped, so the US compromised by paying off Brazilian cotton farmers to the tune of $147 million per year. So now US taxpayers subsidize the American and Brazilian cotton industries - whoopee. How long till everybody gets on this bandwagon.