Analyst says farm bill could be delayed until April 2013
"In 1995 and 1996 they didn't" extend the earlier legislation, Flinchbaugh said.
He believes it will not be as easy to pass an extension as it may look now based on how farm bills are funded.
"If they try a one-year extension, I don't know where they are going to get the money," he said. "They might do a 30-day extension or 60-day extension until they get the new one."
But the farm bill is the minor issue compared to the fiscal cliff the country is facing, Flinchbaugh said.
Under a contentious budget compromise in 2011 neither side liked, Republicans and Democrats locked themselves into massive mandatory budget cuts and tax increases in January 2013 to avoid raising the U.S. debt ceiling after last year's first-ever U.S. debt downgrade by rating agency Standard & Poor's. Economists say such automatic drastic measures will likely push the economy back into recession.
"I'm pleading for horse sense," Flinchbaugh told Reuters. "If Congress attempts to kick the can down the road one more time -- by spring we will have federal Treasury bonds rated BB, versus AA now."
Self-contained hydraulic system with power cables (hydraulic). Tandem Henschen axles (hydraulic). Hydraulic fenders. Manual or hydraulic tilt. 6,500-gallon tank.
- Dry weather, biofuel mandate to boost palm prices in 2014
- 2014 Farm Bill: Reallocating base acreage
- FAS administrator talks world ag export situation
- The Beige Book is out. The agriculture picture is not rosy
- New precision potassium fertilizer from AgroLiquid
- Ag markets ended the week in decidedly mixed fashion
- Are you in favor of a federal labeling standard for food that might contain genetically modified ingredients?
- Commentary: Barking up the wrong tree
- Water allocation for most drought-stricken Calif. farms to end
- Look at how the rice scheme made Thailand unstable
- Larson Electronics offers 150 Watt LED high bay light fixture
- Growth Points: Big data is about to get even bigger
A.J. Sackett Loss-In-Weight Blend Systems
A.J. Sackett Sons & Company