Despite what farm policy critics would have you believe, farm policy is anything but a handout for farmers. In fact, newly released data from the National Crop Insurance Services (NCIS) demonstrates that farmers are taking care of their own and in the process reducing the cost to the federal government.
Crop insurance is the cornerstone of the farm bill’s safety net and our job now is to make sure we don’t do anything to mess it up.
This recent headline says it all. The diversity of American agricultural production coupled with the varied growing conditions across the country and the swings in weather explains why farmers need a safety net. More importantly, it describes why crop insurance is the centerpiece of the farm safety net.
And a new study commissioned by U.S. sugar producers sheds light on the intricate web of Thai subsidies.
Farmers face a lot of risks the rest of us don’t. And given the capital requirements of farming today, each of these risks has big financial consequences.