Bidenomics Failing Farmers As Expected Incomes Crash The Most Since 2006 (Food Prices UP 21% Under Biden’s Reign Of Error)

Sharing is Caring!

by confoundedinterest17

This reminds me of “The Human Farm” episode of Parks and Recreation.

A new report from the US Department of Agriculture forecasts that US farmers are poised for another year of financial misery, facing the most significant decline in incomes in almost two decades as crop prices slide and US dominance in ag exports wanes.

USDA forecasts net farm income, a broad measure of profits, to plunge $39.8 billion, or 25.5%, to $116.1 billion in 2024. This follows a forecasted decrease of $29.7 billion, or 16%, from 2022 to $155.9 billion in 2023.

See also  Dutch Farmers Block The Border Between The Netherlands And Belgium

If the estimate holds, farmers face the largest income drop since 2006 and back-to-back years of financial pain.

“With this expected decline, net farm income in 2024 would be 1.7 percent below its 20-year average (2003–22) of $118.2 billion and 40.9 percent below the record high in 2022 in inflation-adjusted dollars,” USDA wrote in the report.

See also  Wendy’s planning Uber-style ‘surge pricing’ where burger prices fluctuate based on demand

Simultaneously, farmers are witnessing a rapid decline in their leading role in the global grain market. Decades of corn export dominance were shredded by Brazil last year.

Bidenomics is failing blue-collar workers who put food on America’s table.

Food prices (CPI) are up 21% under listless, dementia Joe Biden.

I am surprised that Orin from Parks and Recreation hasn’t been appointed to Biden’s cabinet as Secretary of Agriculture.


Views: 112

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.