I'm glad I asked. As the kids say "TIL that REA was loans to rural coops."
-Curt
On Tuesday, April 30, 2019, 4:32:04 PM EDT, Curley McLain via Mercedes
<mercedes@okiebenz.com> wrote:
REA helped Lektrick coops to organize and offered them low interest
loans. AFIK, all loans from the 1930s were paid back long ago. I
doubt any were over 50 years. Is a loan program really a subsidy? If
the loan is subsidized like FHA, VA etc, then maybe. I don't know if
the loans to the REA coops were subsidized or not. Are federal
guaranteed loans for rural development a subsidy? IMHO, not as long
as they are paid back. To me it only becomes a subsidy when the
borrower defaults.
Curt Raymond wrote on 4/30/19 10:59 AM:
> How does REA have any justification when other subsidies don't? If
> people want to live out there why is it okay to use other people's
> money to give them electricity?
>
> Really what I'm asking is if "no subsidies" is the goal how can there
> be some subsidies?
>
> For the record rural electrification was a hugely important step for
> our country and is a big part of the reason for our safe and stable
> food supply which is a big part of blah blah etc... I'm just curious
> as this seems like a "blind spot" subsidy...
>
> -Curt
>
>
a
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