AEI: Farm bankruptcies do not justify more farm aid

An uptick in farm bankruptcies was so small it does not justify more farm aid.

The American Enterprise Institute says that the increase in 2019 was so low, it is basically a blip on the radar.

The groups says that farm bankruptcies are so rare, even a small change in numbers can seem substantial, but farm businesses do amazingly better than the rest of the economy, in terms of bankruptcies.

A new survey shows the economy in rural America is improving.

That survey was taken from ten Midwestern bank CEOs who report growth for the fourth time in five months.

Economist Ernie Goss says that these are the best numbers we have seen since before the pandemic. He says that it is because of better grain prices, government stimulus checks, and the vaccine rollout.

However, he says that it will likely lead to greater inflation, which could result in higher long-term interest rates.

Bankers in the ten state area expect farm equipment sales to expand by nearly 4 percent in the next year.