Spending Freeze and Less Debt

Spending Freeze and Less Debt plus Food Forethought. I’m Greg Martin with today’s Northwest Report.

Fewer operators rely on debt to run their farms according to a new study. USDA Economic Researcher Michael Harris explains some of the findings of a recent study on farm operator debt and a shift in the farm debt landscape.

HARRIS: The amount of debt has continued to increase steadily since the mid-1980’s and peaked according to our preliminary estimates in 2009 and one of the very interesting findings was that the amount and share of farming assets owned by farm operators has increased as the share of claims held by lenders has decreased. That debt has been increasing and we can also tell that real estate happens to be a large part of that. And that debt is also concentrated in larger farms and in dairy, poultry and hog farms.

During tonight’s State of the Union address President Obama will propose a three-year freeze on federal funding that is not related to national security. The freeze would take effect in October and limit the overall budget for agencies other than the military, veteran’s affairs, homeland security and certain international programs to 447-billion dollars a year for the remainder of Obama's first term. It is uncertain how this freeze would affect USDA programs.

Now with today’s Food Forethought, here’s Lacy Gray.

It is refreshing to say the least to hear of Hollywood’s elite finally putting their money where their mouth is. Disasters such as the recent earthquake in Haiti generally brings numerous stars and starlets out in droves asking for donations while the cameras flash away. With the tragic devastation of Haiti the stars are still asking for donations while the cameras are flashing with one significant difference, the majority of them are making million if not multi-million dollar donations of their own. Most of us can’t give so generously but we can join in the spirit of caring and giving by contributing to assistance programs for the rural people and farmers of Haiti. Sadly, as will often happen, Haiti’s earthquake has also brought a few of the “nuts” into the public spotlight spouting idiotic drivel about curses and centuries old pacts with the devil. Thankfully the majority of us have evolved beyond seeing demons in every catastrophe, and recognize them for the natural disasters they are. If you would like to help, the USAID’s web site outlines ways you can contribute by volunteering, making financial contributions, or donating goods.

Thanks Lacy. That’s today’s Northwest Report. I’m Greg Martin on the Northwest Ag Information Network.