Farm Bill Hope Pt 1
From the Ag Information Network, I’m Bob Larson. The Congressional clock is ticking as the ag industry watches to see if a new Farm Bill is doable this session.
Tyson Redpath, Principal at the Russell Group, says the Farm
Bill is a resilient piece of legislation that isn’t cheap, but has overcome many hurdles in recent years, including the pandemic …
REDPATH … “Guess what, the Farm Bill withstood that incredible challenge, maybe the greatest challenge in certainly 100 years, and it came through that. So, we have to remember, yes, it’s $1.5 Trillion. Nobody is hiding from that.”
Especially when you consider, Redpath says our national debt of $34.5 Trillion …
REDPATH … “That is complicated. We have to get real about debt. In fact, we’re coming off of an inflationary period largely driven by an era of non-stop stimulus, even before COVID, right. Just, there’s a problem, we’re going to pass stimulus spending. We can’t do that anymore. We can’t afford it.”
That, Redpath says has to stop …
REDPATH … “We will spend more this year servicing the debt. Just picture your credit card bill. All we’re going to do this year is essentially pay the interest. And to pay that interest alone is $1 Trillion. And we will spend more paying that interest than we will on national defense, which is seemingly unconscionable.”
Tune in tomorrow for more on government spending and a new Farm Bill.
