Think there’s a farm subsidy debate coming on Capitol Hill as political wrangling heats up over the 2012 farm bill? Then take a look across the Atlantic — at the largest subsidy system on the planet.
The EU subsidy program, titled Common Agricultural Policy (CAP), takes up a major share of the overall EU budget. The total EU subsidy output in 2009 was $75 billion. CAP reform appears imminent as European countries continue to push and shove for their place in the CAP queue.
To read more about the EU subsidy debate, please see this Financial Times article.