Eastland said that the stability provided by the 2002 farm program, written to last through the 2007 crop year, has allowed unprecedented growth in farm investment, while underpinning an industry that contributes 15 percent of the nation's GDP.
“Federal budget deficits adversely impact the entire American economy and efforts to address deficits should strive for equity in sharing the pain of adjustment,” Eastland said.
“Spending on commodity and conservation agriculture programs account for less than 1.5 percent of total mandatory spending, yet commodity programs are being asked to shoulder more than eight percent of required reductions. Agriculture should not be singled out or asked for greater sacrifice than other federal departments.”
Because the World Trade Organization Doha Round talks still are underway, Eastland said that any reduction in US agricultural support prior to the completion of these international trade negotiations would be the equivalent of unilateral disarmament.
“Substantial changes in US commodity programs can weaken our negotiating position, undermine current proposals, and send the wrong signal to other WTO member countries,” Eastland said.
“Should the US unilaterally disarm in agriculture, there will be little reason for other countries to reduce subsidies or open their markets to U.S. agricultural products.”
Memphis-based NCC's mission is ensuring the ability of all industry segments to compete effectively and profitably in the raw cotton, oilseed and US-manufactured product markets at home and abroad.
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National Cotton Council of America
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