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5-23 FB Crop Insurance
by David Sparks, Ph.D., click here for bio
Program: Idaho Agribusiness Today
Date: May 23, 12
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An article in the Idaho Statesman asked the following question as a headline: should farmers get subsidy for crop insurance?
The Statesman reported that critics say that growers in a profitable industry don’t need more help from taxpayers. Basically the criticism is that farmers can buy an insurance policy to cover losses or to cover falling prices that they didn’t anticipate and we the taxpayers pay most of the bills on these insurance policies. Probably sounds like a sweet deal to you but don’t forget who’s putting food on your table and in the event of a catastrophe, do you want all the farmers to go out of business? Dick Rush, Executive Director of the USDA Farm Service Agency makes the following observation: “if the insurance is too expensive farmers won’t pay for it even though they know they probably need it.”
And in the event of a disaster, such as the horrendous drought in the Southwest, you will see millions of acres and thousands of farmers declare bankruptcy. Congress would then jump in and pass bills to save farmers in order to maintain the country’s food supply.
Recent Reports from Idaho Agribusiness Today
- 01/04/05 Specialty crop bill lacks funding
- 01/05/05 Idaho to have more control over wolves
- 01/06/05 USDA economist looks at farm income
- 01/11/05 Opponents of Nez Perce Water agreement
- 01/12/05 Opponents to Nez Perce agreement, part 2
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