CAFTA Will Cost US $4.4 Billion Over 10 Years

CAFTA Will Cost Taxpayers

The Bush administration’s free-trade agreement with Central America would cost taxpayers $50 million a year in loan forfeitures by sugar farmers, the Congressional Budget Office says.

An administration official said Thursday that the analysis was unrealistic and that there would be virtually no cost under sugar provisions in the deal.

The CBO released its estimate as House leaders planned for a vote next week on the Central American Free Trade Agreement. It would remove or lower trade barriers with Costa Rica, El Salvador, Guatemala, Honduras, Nicaragua and he Dominican Republic.

Overall, CAFTA would cost the U.S. about $4.4 billion over the next 10 years, primarily in lost tariffs, the CBO said.

For anyone still listening to the rhetoric of our incompetent president who says this is good for the taxpayers, good for the workers, and good for America.

The only “persons� this deal is good for are the multi-national corporations who will take their jobs to cheaper labor. It will further crush the middle class into oblivion and slowly but surely bring America down to 3rd world status.