Source: Chuck Abbott, SUCCESSFUL FARMING, 7/26/21


When crop insurance indemnities and unemployment benefits are counted, the government sent $57.7 billion to farm operations and farm households in 2020, while the pandemic sent the U.S. economy into recession, said a working paper by USDA economists. It was the highest estimate yet of federal assistance to farmers last year and the most inclusive. “Using data from the Small Business Administration, Bureau of Labor Statistics, and multiple sources within USDA, we find $57.7 billion in total financial assistance was provided to farm operations and households in calendar year 2020,” said the Economic Research Service working paper.

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