Farmer Income Drops At Largest Rate in Three Years
It has been a very, very bad few months for farmers.
Massive floods in the Midwest, low prices for crops and milk, and the continuing pressure of Trump’s trade war have had their effects. Bloomberg reports, citing the Department of Commerce, that farmer personal income is down in the first quarter of 2019—the largest such drop in the past three years.
The total damage, which is presented in annualized form—meaning, extrapolated to the entire year—checks in at a loss of $11.8 billion for the personal income of American farmers. This is despite some Trump administration efforts. In September 2018, the Trump administration announced $12 billion in bailout money to help farmers survive the trade war; it was paid out slowly and inefficiently, according to this New York Times report.
And just a few weeks ago, in mid-March, Trump’s 2020 budget was revealed, with massive cuts to programs farmers depend on. The budget proposal included a 15 percent total cut to the USDA’s budget, and $26 billion in cuts to the crop insurance program, a program which allows farms to survive in bad times. (Reminder: these are bad times, right now.) Even the Farm Bureau, which has generally supported the Republican party, spoke out in opposition.
With this news of dramatic drops in farmer income, there appears to be some miscommunication in the Trump administration. Economic adviser Larry Kudlow first said that the White House is prepared to do more to help agriculture; shortly thereafter, USDA secretary Sonny Perdue said there are no plans currently under discussion to provide more aid to struggling farmers.
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by Dan Nosowitz, Modern Farmer
May 24, 2019
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This is what happens when you elect a multi bankrupt real estate agent/talk show host as president.He doesn’t know alfalfa from beetroot !!
I am thinking that a USA Farmer’s GoFundMe Page should be set up. We cannot just say there is no more help coming, in America we need to stand up together and find solutions if the government cannot or will not step in, or does not dole out the money accordingly. Farming is so important folks, it is our bread & butter literally, it is our food basket. Let us together find a solution for our most important farmers trying to do their jobs for us to eat.
If you want to help American farmers, end all subsidies and abolish the USDA and the FDA. Subsidized industries and producers are, by definition, failing industries and producers! Allow the competent, innovative farmers to push farming forward and let the dinosaurs go extinct. Taxing successful producers to subsidize unprofitable operators is a formula for bankruptcy and regression. If consumers value what farmers grow they will pay what is necessary to make their enterprises profitable.
The tariffs have supported hunger relief organizations with over double the amount of commodity food coming into the emergency food system.
Who chose the headline? Is this a leftist site?…Change takes time. The Chinese have only been willing to “business” if’n it’s in their favor since the 1800s. If you have made Any effort to understand history, you would plainly see this reality. Hopefully Monsanto isn’t being excessively awarded in the government funding. If’n do, please make us aware….Otherwise-buckle up and anticipate long term benefits.