Obama Cuts Sour Deal on Sugar | Daniel Griswold | Cato Institute: Commentary

Obama Cuts Sour Deal on Sugar | Daniel Griswold | Cato Institute: Commentary: "A system of price supports and import quotas virtually guarantees domestic beet and cane growers an 80 percent market share. At times, this has forced American families and sugar-consuming industries to pay prices two or three times the spot world price."

"As a consequence, 'Many U.S. (sugar-containing product) manufacturers have closed or relocated to Canada where sugar prices average less than half of U.S. prices and Mexico where sugar prices average about two-thirds of U.S. prices.'"

"In all, 6,400 workers in the sugar-processing industry have lost their jobs because of their own government's deliberate policy to drive up the cost of their major input. According to the U.S. International Trade Commission, the sugar program "saves" only 2,200 jobs in the sugar growing and harvesting industry. So our sugar policy eliminates three jobs for every one it saves."