Government payments to farmers have surged to historic levels under President Donald Trump as the Agriculture Department floods the industry with cash to stem the financial losses from Trump’s tariff fights and the coronavirus pandemic. But as agriculture grows more reliant on unprecedented taxpayer support, farm policy experts and watchdog groups warn the subsidies are growing too big and too fast, with no strings attached and little oversight from Congress — and that Washington could have a difficult time shutting off the spigot.
EU COVID-19 bailout
Euro bank bailouts
European bank bailouts (billions of € euros). Some European banks were supported through the financial crisis. The figures above reflect capital injections recorded as ‘deficit-increasing’ (i.e., capital transfers). DATASOURCE: Eurostat. WIDGET: factgraphs.org
US bank bailouts (billions US$). In response to the financial crisis of 2008, the U.S. Treasury Department has deployed hundreds of billions in taxpayer dollars to bail out major banks. DATASOURCE: ProPublica. WIDGET: factgraphs.org