Trump is set to redistribute $28 billion to farmers that he is collecting in taxes from *American* businesses via tariffs - over double the total spent on the 2009 auto bailout. I'm old enough to remember when conservatives would call that socialism.
“At $28 billion so far, the farm rescue is more than twice as expensive as the 2009 bailout of Detroit’s Big Three automakers, which cost taxpayers $12 billion.” #TradeWar
Great story by my Bloomberg colleagues ⁦⁩ and ⁦⁩ on farmers and the trade wars. Which brings up a few thoughts... 1/
Remember when conservatives howled at the auto bailouts? "At $28 billion so far, the farm rescue is more than 2X as expensive as the 2009 bailout of Detroit’s Big 3 automakers, which cost taxpayers $12 billion." Response from Conservatives? Crickets...
you know how some republicans accuse democrats of buying votes with handouts
“I sometimes see where these horrible dishonest reporters will say that ‘oh jeez, the farmers are upset.’ Well, they can’t be too upset, because I gave them $12 billion and I gave them $16 billion this year,” said Trump. via
Today at the White House, President Trump is lamenting that no one writes about how much money he gives to farmers. Here's a piece on it. His farm trade-war-bailout has cost twice as much -- so far-- as the Big Three bailout in 2009
Farmers Say Trump’s $28 Billion Bailout Isn't a Solution - Bloomberg #farming #agriculture
Farmers “can’t be too upset, because I gave them $12 billion and I gave them $16 billion this year,” said Trump, who then added, “I hope you like me even better than you did in ’16.”
Farmers Say Trump's $28 Billion Bailout Isn't a Solution - Bloomberg
Trump says farm payments "never gets reported by the fake news". Here is a deep dive by Bloomberg into the farm bailout
That’s not a good number. Worth pointing out also that farm incomes would be falling hard were it not for a government bailout that is now more than twice as big as auto bailout a decade ago...