[Weekly Compilation of Presidential Documents Volume 34, Number 51 (Monday, December 21, 1998)]
[Pages 2471-2472]
[Online from the Government Publishing Office, www.gpo.gov]

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The President's Radio Address

December 12, 1998

    Good morning. This month, as Americans begin to prepare for winter, 
our Nation's farmers begin to prepare for the spring planting ahead. But 
this year has been very hard on farmers--for some, the hardest in nearly 
two decades--and many are strained to the breaking point. Today I want 
to talk about what we're doing to help America's farmers weather these 
hard times and to build a stronger safety net to protect them for years 
to come.
    We're living in a remarkable time of prosperity and even greater 
promise for our future. Our economy is the strongest in a generation, 
with more than 17 million new jobs, family incomes rising, the lowest 
unemployment in nearly 30 years, the lowest inflation in more than 30 
years, the smallest percentage of people on welfare in 29 years, and the 
highest homeownership in history.
    America's farmers have helped to build this new prosperity, but far 
too many of our farming communities are not reaping its benefits. Flood 
and drought and crop disease have wiped out entire harvests in some 
parts of the country. Plummeting prices here at home and collapsing 
markets in Asia have threatened the livelihood of some farming 
communities.
    Wherever we live and whatever work we do, every American has a stake 
in the strength of rural America. America's farmers are the backbone of 
our economy and the lifeblood of our land. Our farming families stand 
for the values that have kept our Nation strong for over 220 years: hard 
work, faith and family, perseverance, and patience. We can't afford to 
let them fail.
    Last summer we took action to ease the immediate crisis on our 
farms. We began buying millions of tons of wheat and other food to ease 
the burden of dropping prices here at home and to feed hungry people in 
Africa, Russia, and all over the world. I signed legislation to speed 
farm program payments to farmers, who need the money now to start 
planting for next spring. And I called on the Congress to take action to 
help farmers survive this year's one-two punch from Mother Nature and 
the marketplace.
    I am pleased to say that this October, as part of our balanced 
budget, I signed legislation that included a $6 billion plan for farmers 
in need. This November we started putting the plan into action, with 
nearly $3 billion in income assistance to farmers who have seen their 
profits wither as crop prices fell. Today I am pleased to announce the 
next major step to ease the crisis on our farms, nearly $2\1/2\ billion 
in emergency aid for farmers who have lost crops and livestock.
    But with too many farm families still in danger of losing their 
land, and with crop prices still far too low, we know we must do more to 
strengthen the safety net for our Nation's farmers. Government has an 
important role to play in meeting this challenge, but it's not something 
Government can do alone. Ultimately, America's farmers will keep 
America's farms growing strong.
    We know that no one can fully predict the changing weather or 
changing prices, but every farmer knows that crop insurance is one of 
the best ways to protect against the worst risks of farming. In good 
times, crop insurance gives farming families the security they need to 
thrive and grow. And in hard times, crop insurance can mean the 
difference between a spring planting and a spring sale of the family 
farm. But far too many farmers don't have crop insurance at all or only 
buy the bare minimum, not enough to withstand a really devastating year.
    We need to do more to enable family farmers to fully protect 
themselves in hard times. That's why I am pleased to announce the funds 
we're releasing include $400 million in new incentives for farmers to 
buy crop

[[Page 2472]]

insurance. We'll give farmers a one-time premium discount of up to 35 
percent when they expand their crop insurance, and that will give our 
farming families greater security and more peace of mind.
    Together, these steps will help thousands of farmers around our 
country to recover from this difficult time and plant a seed of hope for 
the future, not only for stronger farms but for a stronger America in 
the 21st century.
    Thanks for listening.

Note: The address was recorded at 7:30 p.m. on December 11 in the 
Roosevelt Room at the White House for broadcast at 10:06 a.m. on 
December 12. The transcript was made available by the Office of the 
Press Secretary on December 11 but was embargoed for release until the 
broadcast.