This reminds me of “The Human Farm” episode of Parks and Recreation.
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.
If the estimate holds, farmers face the largest income drop since 2006 and back-to-back years of financial pain.
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“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.
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.
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I am surprised that Orin from Parks and Recreation hasn’t been appointed to Biden’s cabinet as Secretary of Agriculture.
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