11/26/08 Budget Reform & Thanksgiving

Budget Reform & Thanksgiving plus Food Forethought. I'm Greg Martin with today's Northwest Report. President-elect Obama says with rising deficits and a shrinking economy - budget reform is not an option, but a necessity. He vows his new economic team - including Peter Orszag as White House Budget Chief - will go through the federal budget line by line. Obama cited questionable farm payments cited in a new GAO report as an example of spending he'd cut. OBAMA: There's a report today that from 2003 to 2006 that millionaire farmers received $49 million in crop subsidies even though they were earning more than the $2.5 million cut-off for such subsidies. Now if this is true, and this was just a report this morning, but if it's true it is a prime example of the kid of waste that I intend to end as President. Well tomorrow is Thanksgiving Day. For a lot of us it will be filled with food, family, football and loads of fun. I always try and take a moment to think of all the things that I'm grateful for. Each year the list seems to keep getting longer as I get older and then I have to wonder if there is any correlation between the two. I'm sure there is. Now with today's Food Forethought, here's Lacy Gray. The term "tenant farmer" brings back a mental image of the depression era and family farmers down on their luck, having to toil for a living on land they don't own. Tenant farming seems to be reemerging, however today its big business and governments searching to fill land shortages in their own countries by purchasing large amounts of land abroad in order to establish massive industrial farms. South Korea is the most recent addition to the modern era "tenant farmers", having purchased 3.2 million acres of farmland, with a 99 year lease, on the tropical island of Madagascar, off Africa's coast; claiming the purchase as a move that would ensure their food supply. I can't help feeling however that there is probably an underlying motive which in the long run will not serve the struggling and poor African countries that are selling off their soil. The promise of jobs for the thousands of unemployed seems a godsend. But in the event of another and even more devastating world food shortage, how will the scenario of the poor people of Madagascar having to purchase their own food from foreign investors play back ethically and politically? It seems time will tell whether foresight or hindsight is the better. Thanks Lacy. That's today's Northwest Report. I'm Greg Martin. And from all of us at Northwest Ag Information Network, have a Happy Thanksgiving.