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From: TimF	9/27/2005 5:39:13 PM
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Sweet and Lowdown WSJ.com September 26, 2005; Page A18 During the Cafta trade debate we wrote that the U.S. sugar program, pound for pound, might be the most destructive policy in Washington. Turns out it may also be the dumbest. By the time of passage, Cafta allowed a modest increase in imports from the Caribbean, which set off wails of impending catastrophe from the sugar-growing interests here. Guess what? The U.S. this year is facing a shortage of sugar. And next year, too -- and that's before we know the damage that Katrina has done to the 2005 crop. It turns out Cafta's new import levels are too small. So we're going to have to import more sugar this year and more than Cafta allows next year to avoid an unpleasant price spike for consumers and damage to the $225 billion U.S. sugar-using industries. There's only one place where we'd have thought you could produce anything so ludicrous as a sugar shortage, and that's the old Soviet Union. Well, that's pretty close to what we've got... Message 21736755

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