.MaddowBlog: Despite Trump’s odd boasts, farm bankruptcy rates soar
Donald Trump’s timing could’ve been better. On the campaign trail in Des Moines last night, the president told supporters, “We’re going to win the great state of Iowa and it’s going to be a historic landslide. And if we don’t win, your farms are going to hell.”
Trump’s rhetoric coincided with the latest data on farm bankruptcy rates, which made his rhetoric look quite a bit worse. Reuters reported: According to data released this week by the United States Courts, family farmers filed 595 Chapter 12 bankruptcies in 2019, up from 498 filings a year earlier. The data also shows that such filings – known as “family farmer” bankruptcies – have steadily increased every year for the past five years.
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