1. Down with King George.
- Subjects
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COTTON farmers , *AGRICULTURAL subsidies , *SUBSIDIES , *FARMERS , *COTTON trade employees , *COTTON prices , *AGRICULTURAL policy , *GOVERNMENT aid , *AGRICULTURAL economics , *FARM produce , *COTTON trade ,ECONOMIC conditions in the Southern States, 1945- ,UNITED States economic policy ,UNITED States politics & government, 2001-2009 - Abstract
The article focuses on cotton farmers in the U.S. South. This month has seen two blows to cotton farmers' prospects. First, the Bush administration, trying to cut the budget, has proposed reductions in cotton subsidies, limiting them to $250,000 per farmer. Second, the World Trade Organisation has ruled that America's cotton subsidies exceed the limits determined in 1994. Subsidies were created during the Depression of the 1930s to help small farmers and ensure domestic production of food and cotton. Cotton farmers thought they, like other farmers, were protected by the 2002 Farm Security and Rural Investment Act, which was supposed to ensure hand-outs until 2007. Cotton farmers complain that they face competitive disadvantages. The subsidies, they say, are needed to defray the huge capital costs of their business, and also the fact that prices fluctuate so wildly.
- Published
- 2005