The Morning Joe host also attacked trade-war aid payments to farmers, calling the system 'the biggest Socialist farm payoff scheme ever.'
on aid payments to farmers reporting that $28 billion had been spent on farm rescues so far as a result of the U.S-China trade war.
In the exchange of tariff increases on select products, the U.S. agriculture sector has taken a hit as China has lifted import fees on American products such as beef and apples. MSNBC"Morning Joe" host Joe Scarborough speaks during an event in the McGowan Theater at the National Archives on July 12, 2017, in Washington, D.C.According to Bloomberg, the trade war has seen the value of U.S. agricultural exports to China drop from $19.5 billion in 2017 to $6.6 billion in July this year.
But the aid provided to farmers by President Trump to counteract tariff costs is not of unprecedented size in U.S. history. For instance,that between 2001 and 2006, the U.S. government paid more than $95 billion in agricultural subsidies, or roughly $19 billion a year.That figure is way in excess of the $28 billion in trade-war aid payments made by the Trump administration thus far.
But Scarborough was right to say that federal debt has reached a record high under President Trump, as it was revealed earlier this year that the size of America's national debtThe federal budget deficit also came close to breaching the $1 trillion mark in 2019, coming in at $984 billion for the fiscal year, according tohas contacted the White House for a response to Scarborough but did not receive a response by time of publication.
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