Congress provided additional relief last year which producers across America greatly needed and appreciated. Every indication is that family farmers will need additional financial support again this year. 6-times the LDP total for FY1998. We have taken steps administratively as well to help family farmers. More money will be needed to provide direct and guaranteed loans to family farmers in 1999.
Credit is no substitute for income, but credit is essential in any farm operation.
Demand for FSA farm loans in FY 1999 has been extremely strong. Secretary Glickman has said he will seek supplemental funding for farm loans and will be submitting a request for additional funds soon. These are temporary measures which are needed to help America's family farmers weather the current crisis. We still need to strengthen the farm safety net to help American agriculture prosper in good times, and in bad, without the need for this level of ad hoc assistance. The first step in building a stronger safety net is improving our risk management tools, mainly crop insurance and our credit operations.