Current Week

Unsustainable Debt

March 29, 2017

Hello everybody out there in farm country. This radio commentary is brought to you by the National Corn Growers Association and CropLife America. They are friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.

And now for today’s commentary—

I am out of town today and speak to you by telephone. We all know that President Trump has an ambitious agenda. One of those projects is to balance our budget. Our rising debt is frightening. It has hit a higher level as a share of our national economy than any time since President Truman. Truman was able to reduce the debt by the time he left office.

That will not be easy for us to do now. Fifty years ago, two-thirds of government spending was discretionary. They cut defense – World War II was over. They cut other programs. At that time, only one-third of spending was mandatory. Today, two-thirds ismandatory. Our big spending is on auto pilot.

At this point, it doesn’t sound like the Congress or President Trump have targeted entitlement programs for any reductions. Social Security, Medicare, Medicaid, and our debt payments will continue to go up. With an older population and rising interest rates, it’s hard to imagine how we can get control of our rising debt. There won’t be much money for defense or discretionary programs.

In 2021, the Highway Trust Fund will run out of money. Social Security Disability Insurance reserves will be broke. The list of shortcomings goes on and on. With our debt at 77% of GDP now and projected to continue to grow, we need to get serious about a solution. It can only be fixed by spending less or taxing more. However, the Republican Congress and President plan to cut taxes – corporate income tax and individual tax.

Our elected officials need to have the courage to make necessary cuts in the entitlement programs. Everything should be on the table. We could help that Highway Trust Fund with a fuel tax increase. We haven’t raised that tax for 25 years. We are living longer and working longer. Raise the Social Security retirement age. When Social Security insurance was introduced under President Roosevelt, the average life expectancy was 65 years.

We don’t know if Speaker Paul Ryan’s 20% “border tax” on products imported into the U.S. will survive. That would bring in a lot of money to help with the budget and to move forward with tax reform.

Dealing with our debt problem is so difficult because politicians fear that they will not get reelected if they raise taxes or take away any government supports or subsidies. Our debt level rose under President Bush and then doubled to $20 trillion under President Obama. Businesses and farms can’t live like this and neither can our nation.

If you would like to review my radio shows going back more than 20 years, just go online to www.johnblockreports.com. Have a great weekend.

Until next week, I am John Block from Washington.

Previous Weeks

Regulations and Licensing

June 16 2016

Hello everybody out there in farm country. This radio commentary is brought to you by John Deere and the National Corn Growers Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.

And now for today’s commentary—

We hear a lot of talk about the economy. It’s not growing as fast as it should. Two percent growth is just too slow. It has taken forever to recover from the 2008 recession. There are a lot of opinions about…

Read More/Listen

A Lot Going On

June 9 2016

Hello everybody out there in farm country.  This radio commentary is brought to you by John Deere and the National Corn Growers Association.  They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America.  Thank you.  

And now for today’s commentary—  

Another week goes by – Donald Trump and Hillary Clinton look to be our Presidential candidates.  It’s quite a contrast.  Polls indicate that they are in a dead heat, but it’s a long time until…

Read More/Listen

Trans Pacific Partnership (TPP) 2016

June 2 2016

Hello everybody out there in farm country. This radio commentary is brought to you by John Deere and the National Corn Growers Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.

And now for today’s commentary—

Agriculture is an industry that depends heavily on exports with some 30% of our production sold to other countries. That explains the reason why the ag industry has so much interest in the Trans Pacific…

Read More/Listen

GMOs Are Safe

May 26 2016

Hello everybody out there in farm country.  This radio commentary is brought to you by John Deere and the National Corn Growers Association.  They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America.  Thank you.  

And now for today’s commentary—  

Hopefully, we are beginning to set the record straight.  We have heard so much misleading information criticizing biotechnology that we could go down the European road.  In Europe, GE food is not on the…

Read More/Listen

Too Much Government

May 19 2016

Hello everybody out there in farm country. This radio commentary is brought to you by John Deere and the National Corn Growers Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.

And now for today’s commentary—

I am on the farm this week hoping to wrap up soy bean planting. It was Donald Trump last week. This week, first let me give you my take on the “bathroom bill brawl.” Why won’t the federal government back…

Read More/Listen

Trump Wins

May 14 2016

Hello everybody out there in farm country. This radio commentary is brought to you by John Deere and the National Corn Growers Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.

And now for today’s commentary—

I have been involved in Republican politics since Governor Jim Thompson appointed me as his Illinois Director of Agriculture 40 years ago. I have never seen a Presidential campaign like this one. We had 17…

Read More/Listen

Peanuts

May 5 2016

Hello everybody out there in farm country.  This radio commentary is brought to you by John Deere and the National Corn Growers Association.  They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America.  Thank you.  

And now for today’s commentary—  

As a farmer, I would not like it if Europe shipped subsidized beef into our market.  That would undercut our prices.  What if Brazil shipped subsidized soybeans to us?  We would be furious.  

Did you know…

Read More/Listen

Trump Wins Big

April 28 2016

Hello everybody out there in farm country. This radio commentary is brought to you by John Deere and the National Corn Growers Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you.

And now for today’s commentary—

Last week, I was on the farm in Illinois. Our corn is planted. Field soil conditions have been ideal. We still have soybeans waiting to be put in the ground. This is an exciting season.

Speaking of an…

Read More/Listen

Taxes

April 21 2016

Hello everybody out there in farm country. This radio commentary is brought to you by John Deere and the National Corn Growers Association. They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America. Thank you. 

And now for today’s commentary—

I paid my income taxes this week. You know how the IRS does it. They ask “How much did you make? Okay. Send it in.” I know – it’s not quite that bad. However, every year at this time, we are…

Read More/Listen

4-H

April 13 2016

Hello everybody out there in farm country.  This radio commentary is brought to you by John Deere and the National Corn Growers Association.  They are all friends, supporters, and allies of a healthy farm economy and prosperous rural America.  Thank you.And now for today’s commentary— ;

Just this week, our nation’s largest youth development organization, which happens to be 4H, made a presentation to the House Agriculture Subcommittee on Biotechnology and Research chaired by…

Read More/Listen

Page 5 of 95 pages ‹ First  < 3 4 5 6 7 >  Last ›