Monetization is a process whereby the department of agriculture purchases food in the United States that is then shipped overseas and sold in local markets. The proceeds of these sales are used for foreign assistance programs. A recent GAO audit found that over a 3 year period, $722 million was expended by USDA and USAID and only $503 million was available for foreign assistance programs. This means if the United States had just paid the $503 million directly, taxpayers would have saved $219 million over 3 years or $730 million every decade. In addition, these programs distort the markets in both the United States and the foreign countries where the food is sold. Therefore, the United States taxpayer is wasting $73 million every year to distort international food markets.
Idea No. 4653