Moreover, few industries are as dependent on exports as agriculture. Agriculture has suffered as the deficit has contributed to the increasing value of the dollar relative to other currencies. In conclusion, by reducing target prices we have a rare chance to do something positive for farmers and the Nation. Conversely, failure to reduce target prices in a gradual but steady manner, as this amendment proposes, will only hurt farmers by adding further inducements to create even greater surpluses of all commodities that now exist, and by adding further to the massive Federal deficits that bring with them an over-valued dollar and high interest rates. This amendment would destroy the safety net we have provided for farmers.
Agriculture necessitates certainty and predictability.
A 1-year freeze on target prices does not provide predictability. If we do not like a 4-year freeze we can refine it. But at least we lock in a safety net. We should not blame this bill for the international marketplace situation. Presently, we have many more competitors in the world marketplace.