Political Quotes

“I rise today to introduce, The Farmers' Risk Management Act of 1994. This legislation, which will reform the current Crop Insurance Program, is designed to serve two purposes: First, it will give Americas farmers a risk management tool that works, and second, it will rein in the cost associated with ad hoc disaster programs and a crop insurance program which is underfunded and underutilized. Mr. President, over the last 6 years, we have spent an average of $1.575 billion per year on disaster relief programs for farmers. By using a portion of this money, we can develop a viable crop insurance program for farmers and still save the American taxpayer $750 million over the next 5 years. Under the present system of funding, a crop insurance program and an ad hoc disaster program, the Office of Management and Budget estimates that over the next 5 years, we will spend $8.9 billion. Under this new proposal, the cost over the next 5 years will be $8.1 billion, a saving of $750 million. Also, an additional savings should be realized by the reduction of fraud associated with the current disaster programs.”