In the heartland of America, an unseen crisis looms large. Beyond the rustic landscapes and iconic barns, a silent predator is stalking the American farmer – a rising tide of debt that threatens to engulf our agricultural sector. Yet, unlike other threats, this one does not arrive with a gale-force wind or an unexpected frost. Instead, it manifests in ledgers filled with red ink and rising interest rates. This swelling debt, fueled by soaring interest rates reaching decade-long highs, tarnishes U.S. agriculture’s fabric.
The U.S. Department of Agriculture’s data paints a concerning picture – farm real estate debt exceeding $375.9 billion by the end of 2022, reaching alarming proportions. This escalation of debt, driven in part by a steep rise in interest rates, is more than an economic concern. It is a blight on our farming culture, the millions of lives tied to the land, and the nation’s food security.
