Our agricultural economy in the Hudson Valley continues to face historically low prices and producer income, as well as losses due to weather and other disasters.
Sentiment: NEGATIVE
In the past 40 years, the United States lost more than a million farmers and ranchers. Many of our farmers are aging. Today, only nine percent of family farm income comes from farming, and more and more of our farmers are looking elsewhere for their primary source of income.
Farms and ranches contend with much more than quarterly reports and profit margins - the weather can wreak havoc on their quality of life and economic viability. When natural disasters strike, we must do all we can to assist the backbone of our economy.
It is hard to be enthusiastic about the economy's prospects when house prices are falling: Households spend less, small business owners can't use homes as collateral for loans and local governments are forced to cut jobs and programs as property-tax revenue disappears.
We're losing all kinds of white-collar jobs, all kinds of jobs in addition to manufacturing jobs, which we're losing by the droves in my state.
Economies are embedded inside ecosystems. Companies dependent on tourism, for example, are affected by low rainfall - there's less snow for skiers, and forest fires are more intense.
We have had a great depression in agriculture, caused mainly by several seasons of bad harvests, and some of our traders have suffered much from a too rapid extension in prosperous years.
Now listen, the one thing about agriculture is we've lost our manufacturing, we've lost a great deal of jobs overseas, lots of our industry. The last thing in the world we need to do is lose the ability to produce our food.
We've lost 400,000 jobs in Michigan because of downsizing.
The levels of poverty in 1933's rural America were unimaginable to us now. The 1933 Farm Bill, which introduced unprecedented government control over agriculture, was a reaction to the specific problems facing producers at that time.
The farmers are older; they are under financial stress to produce more margins, yet they keep getting less.
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