USDA to spend $38M to support sugar prices

  • Article by: Mike Hughlett , Star Tribune
  • Updated: June 18, 2013 - 9:27 PM

The government will buy sugar on the domestic market in an effort to push up prices and avoid a larger bailout later.

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theagonybhoJun. 18, 13 4:02 PM

Great just like the feds spending 85 billion a month to keep the stock market afloat, no wonder were broke.

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ianstantonJun. 18, 13 4:07 PM

Let 'em bounce like any other industry! There is plenty of sugar in the world.

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cjohnstonJun. 18, 13 4:21 PM

Bailout? Since when is it government's (you the taxpayer) obligation to bailout all industries? Government can't fix everyones' problem. Where were they when Hostess and twinkies were in trouble? Double standard.

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jcinmnJun. 18, 13 4:32 PM

Let them walk away. Send the sugar to the ethanol processors to offset your losses and never loan them money again. Bad debt means bad credit. the next time they need a loan they'll be paying higher interest. Welfare for agri business has to stop!

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fatredneckJun. 18, 13 4:32 PM

So here the farmers are getting their welfare yet again....the very same farmers that I'm sure decry the people getting welfare in the cities....seems MY welfare is good and necessary whereas yours is not. Why not cut back on it all before we go bankrupt??? Ooops, too late.

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gopher68Jun. 18, 13 4:33 PM

So they take money from the government with one hand and from the unions with the other. Nice racket, if you can get it.

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fairtax007Jun. 18, 13 4:48 PM

It will take much more then 38 million dollars just to pay the increase in farm property taxes. In 2003 the total agriculture property taxes in Minnesota were $ 282,000,000 and in 2011 they were $ 551,000,000. Then add on fees, sales taxes and permit charges on ag property that Minnesota"s share of the 38 million doesn't go very far.

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scubadoo68Jun. 18, 13 4:48 PM

Using the same logic, I could expect to be bailed out if I default on my mortgage. Time to hold these big corporations liable for their decisions.

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bigbrad123Jun. 18, 13 4:54 PM

Now just imagine the outcry if the headline read, "Federal Govt to spend 38 million expanding food stamp program". Think about it. Darn Obama giving to the poor again....oh, ummmm.....nevermind. A handout is a handout either way you look at it.

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dgehrigJun. 18, 13 5:23 PM

we have not been a democracy or republic for a long time...we are a poly-monarchy with a host of "King Georges"...among them are these few precious 'sugar families'...cronied and bought politics...why?

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