Struggling ag economy creates ripple effects
By Meghan Grebner, Brownfield
May 9, 2019
The Chairman of the House Subcommittee on General Farm Commodities and Risk Management says despite reports of a booming overall economy, the rural and farm economy is struggling.
During his opening remarks, Congressman Filemon Vela of Texas said the numbers from the USDA paint a rough picture. “USDA forecast net farm income levels for 2019 to be only 77 percent of the national average from 2000 to 2017,” he says. “It’s down 50 percent from 2013 alone.”
In his testimony, Minnesota farmer Mike Peterson said the trade wars aren’t helping and continue to put pressure on farm incomes during a time when margins are already tight.
He says that creates a ripple effect throughout rural communities. “When farmers don’t have money they can’t spend it in town,” he says...