Obama Budget Cuts Crop Insurance

After months of delay, President Barack Obama has released his proposed budget for next year, one that features more than $30 billion in agricultural spending cuts.
Since the economic recession of 2008, farmers and the agricultural community have found themselves consistently on the congressional chopping block. Farm spending has been repeatedly slashed, even after various farm bill proposals sought to trim farm spending and founds billions of dollars in savings.
After a failed farm bill that saw agricultural politicians sacrifice billions in federal subsidies and after House and Senate budget proposals that sacrificed a great deal of farm spending in exchange for  increased crop insurance protections, many farmers had assumed that they might be spared from further cuts.
The recent Obama budget, however, targets the farm sector in a major way, eliminating direct payment subsidies, and significantly reducing conservation spending and crop insurance support.
The loss of crop insurance subsides is especially troubling for many farmers, particularly in the wake of last year’s devastating drought that crippled crop production across the country, leaving countless farmers on the brink of financial ruin.
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Written by: Justin Ellison / Farm Plus Staff Writer