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From: LostInTheWasteLand@noemail.org

More Farmers Declare Bankruptcy Despite Record Levels of Federal Aid in 2020



More U.S. farmers are filing for bankruptcy in 2020, as federal payments projected to reach record levels this year fall short of compensating
for the coronavirus pandemic and a yearslong slump in the agricultural
economy.

About 580 farmers filed for chapter 12 bankruptcy protection in the
12-month period ended June 30, according to federal data. That was 8%
more than a year earlier, though bankruptcies slowed slightly in the
first half of 2020 partly because of an infusion of federal aid and
hurdles to filing during the pandemic, according to agricultural
economists and attorneys.

The pandemic has pressured prices for many commodities, squeezing
farmers who raise crops and livestock, and prolonging a six-year
downturn in the Farm Belt.


U.S. farm debt has grown steadily since then to more than $425 billion
this year, the U.S. Department of Agriculture estimates. That is the
largest sum since a farm crisis in the 1980s that pushed many farmers
and lenders out of business.

“There are a lot of people that have been hanging on for a long time
that needed a positive development, and this year hasn’t provided that,” Mr. Westhoff said. “It’s been just the opposite.”

Buoyed by $16 billion in direct payments to farmers to mitigate pandemic-related losses, farm income might tick down just 3% this year
to $90.6 billion, the Food and Agricultural Policy Research Institute
predicted in June. As of this week, less than $7 billion of the funds
had been distributed, according to USDA.


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Jan 23. Rioter Who Helped Drag Officer Down U.S. Capitol Steps Tried to
Flee to Switzerland: Feds Completed. By Willie Whittaker is a Putin Cock Sucker.

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Willie Whittaker is a Putin Cock Sucker's profile photo. Willie
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