On March 13, the Wall Street Journal reported that the U.S. Department of Agriculture may purchase 400,000 tons of sugar to keep the Big Sugar companies from defaulting on the $862 million they borrowed since last October under a government price-support program. The result will cause the price of products that use sugar to rise.
This may be a sweet deal for the sugar companies, but it is a lousy deal for taxpayers and consumers.
Is there any wonder that our country has a massive government-incurred debt? It's a joke to think that the Obama administration has not been able to submit to Congress a balanced budget in five years, and it's even more pathetic to think that in an age of trillion-dollar-a-year deficits that Congress can't trim a lousy $85 billion in spending.