US Congress scraps cotton subsidy

[Posteritatis]

http://news.bbc.co.uk/2/hi/americas/4672786.stm

The US Congress has approved the scrapping of major subsidies to the cotton industry, in a move that could help producers in the developing world.

The administration agreed in December to implement a World Trade Organisation (WTO) ruling against the subsidies, but it needed congressional authorisation.

I think I speak for most of us when I say, "!"

[sinkingfeeling]

1. It would be great if it's true. Government subsidies have made it

impossible for even the poorest cotton producers to compete and cost taxpayers big bucks.

[Javaman]

2. We should do what they do in Europe...

subsidize the famer and no the crop.

I wonder what Monsanto has to say about this new little development.