Posted on 10/18/2022 2:11:04 PM PDT by Oldeconomybuyer
DES MOINES, Iowa (AP) — The federal government announced Tuesday a program that will provide $1.3 billion in debt relief for about 36,000 farmers who have fallen behind on loan payments or face foreclosure.
The U.S. Department of Agriculture announced the farm loan relief program funded from $3.1 billion set aside in the Inflation Reduction Act allocated toward assisting distressed borrowers of direct or guaranteed loans administered by USDA. The law was passed by Congress and signed by President Joe Biden in August.
The USDA provides loans to about 115,000 farmers and livestock producers who cannot obtain commercial credit. Those who have missed payments, are in foreclosure or are heading toward default will get help from the USDA. Financial difficulties for farmers may be caused by a variety of issues including drought and transportation bottlenecks.
“Through no fault of their own, our nation’s farmers and ranchers have faced incredibly tough circumstances over the last few years,” said Agriculture Secretary Tom Vilsack. “The funding included in today’s announcement helps keep our farmers farming and provides a fresh start for producers in challenging positions.”
(Excerpt) Read more at apnews.com ...
Have they missed anyone in the cash for votes scam yet?
Let me guess... only for black farmers?
Another just in time bribe provided by the US taxpayer.
rather give it to them instead of erasing college loans.
A billion here and a billion there
and pretty soon we’re talking about a lot of money.
The Traitorjoe kakistocracy tosses out “free money” for all potential voters!!!
I wonder how we can express our gratitude... especially when that “free money” results in an inflation that makes that money as worthless as used toilet paper for us and our children.
the cost of getting it to market has got to be killing them.
All while prices of produce and meats are sky high.
Hm. I thought it was “A Trillion here and a Trillion there, and pretty soon we’re talking about real money...”
It is really maddening to see the administration buy votes. When are we going to run out of money. I hope the younger generations enjoy the debt.
“A billion here and a billion there”
Old MacDonald had a farm
That’s what some Baby boomers said decades ago about us Gen-Xers when we were a “younger generation” inheriting the debt.
I still often say, by force of habit, courtesy of my father, “ A nickle here, a dime there; pretty soon you’re talking quarters.”
Let me guess....Black Farmers ONLY!
No doubt the farmers are really struggling. I don’t begrudge them this but we know it is another pre mid-term bribe.
Were I one of the farmers I’d take the relief - and then vote across the board against Democrats.
It will turn out to be something like that.
Let’s “forgive’ the debt owed to Communist China
Done.
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