Politics as Concerning as Drought for FCA CEO
Farm Credit Administration CEO Leland Strom says the Congressional stalemate over the farm bill doesn't bode well for the negotiations on taxes and spending cuts due at the end of the year - especially with the upcoming election. While Ag Committee staff members in the House and Senate are working this month while lawmakers are home for the August recess - Strom notes there aren't many legislative days - maybe 12 or 13 - on the calendar between now and the election. He says that doesn't leave much time for finishing the farm bill. With existing farm policy set to expire September 30th - Strom says farmers and ranchers are asking for certainty so they know and can plan for their next crop. He says the farm bill politics inject more doubt for investors following the first U.S. federal debt downgrade last year. He's concerned and says it's time to get our house in order. If Congress doesn't act - he's worried that foreign and domestic investors will hammer U.S. securities - including government-sponsored entity notes. Strom believes the lame duck session will be a perilous time for the U.S. economy and agriculture.
© 2013 Rural Radio Network. All rights reserved. Republishing, rebroadcasting, rewriting, redistributing prohibited. Copyright Information