Obama ‘bales out’ Brazilian cotton farmers 

From The Washington Times today:

President Obama’s interpretation of fair trade is shaking out, and it entails paying hundreds of millions in taxpayer dollars every year to subsidize the Brazilian cotton industry. Sending big bucks to Latin American competitors probably isn’t what most Americans consider fair.

The genesis of this example of stupid government rests with a Brazilian protest against farm support and export-credit guarantees that U.S. cotton growers get from Washington. Brazil won its case last year before the World Trade Organization, which ruled that U.S. cotton subsidies violate international trade agreements. Rather than cutting subsidies to American cotton growers, Mr. Obama’s solution was to buy off the Brazilians to drop their case. The bribe came in the form of an annual payment of $147.3 million that the United States will send to Brazil to prop up its cotton producers.

About The Author

David Freddoso

Bio:
David Freddoso came to the Washington Examiner in June 2009, after serving for nearly two years as a Capitol Hill-based staff reporter for National Review Online. Before writing his New York Times bestselling book, The Case Against Barack Obama, he spent three years assisting Robert Novak, the legendary Washington... more
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