The subsidies were supposed to “stimulate” the textile industry. But instead, as is all too typical, many of the taxpayer dollars which went to the industry were frittered away on personal purchases.
This sort of thing happens all the time in all sorts of industries. We’re “only” talking a couple of million here but multiply that out across the economy and one can see why lobbyists are in such high demand.
Who doesn’t want a “free” SUV?
(From The Washington Free Beacon)
The USDA’s Office of Inspector General (OIG) released an audit on Thursday detailing how the government has failed to properly oversee the Economic Adjustment Assistance to Users of Upland Cotton Program (EAAP), resulting in more than $2.4 million worth of “questionable” purchases.
The program, which was created in the 2008 Farm bill, pays textile mills 3 cents per pound of upland cotton they produce to be used on investments, equipment, and new property. However, the OIG found at least $900,000 in payments that went to manufacturer’s “personal use.”
Now just imagine if they audited the Pentagon what they’d find.