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Craig Griffune

👤 Person
126 total appearances

Appearances Over Time

Podcast Appearances

Planet Money
What happened to U.S. farmers during the last trade war

FDR had journeyed to the Midwest to look at the country's farms.

Planet Money
What happened to U.S. farmers during the last trade war

And farms were going bankrupt. The president thought that the markets for grain and livestock were vulnerable to these natural or man-made threats. And so leaving food up to the free market might mean that people wouldn't have enough to eat.

Planet Money
What happened to U.S. farmers during the last trade war

And farms were going bankrupt. The president thought that the markets for grain and livestock were vulnerable to these natural or man-made threats. And so leaving food up to the free market might mean that people wouldn't have enough to eat.

Planet Money
What happened to U.S. farmers during the last trade war

And farms were going bankrupt. The president thought that the markets for grain and livestock were vulnerable to these natural or man-made threats. And so leaving food up to the free market might mean that people wouldn't have enough to eat.

Planet Money
What happened to U.S. farmers during the last trade war

Coming up after the break, we fast forward to 2018 when the trade war hits American farms and the government steps in to try and save them using the CCC.

Planet Money
What happened to U.S. farmers during the last trade war

Coming up after the break, we fast forward to 2018 when the trade war hits American farms and the government steps in to try and save them using the CCC.

Planet Money
What happened to U.S. farmers during the last trade war

Coming up after the break, we fast forward to 2018 when the trade war hits American farms and the government steps in to try and save them using the CCC.

Planet Money
What happened to U.S. farmers during the last trade war

Once President Trump decides that the government needs to step in, he turns to the USDA. And he's like, we are going to need a program to keep farms from going bankrupt. Rob Johanson was at the USDA at the time, and he remembers all of this pressure coming from the White House.

Planet Money
What happened to U.S. farmers during the last trade war

Once President Trump decides that the government needs to step in, he turns to the USDA. And he's like, we are going to need a program to keep farms from going bankrupt. Rob Johanson was at the USDA at the time, and he remembers all of this pressure coming from the White House.

Planet Money
What happened to U.S. farmers during the last trade war

Once President Trump decides that the government needs to step in, he turns to the USDA. And he's like, we are going to need a program to keep farms from going bankrupt. Rob Johanson was at the USDA at the time, and he remembers all of this pressure coming from the White House.

Planet Money
What happened to U.S. farmers during the last trade war

Then they remember that they've got that special pot of money, the Commodity Credit Corporation, that sweet, sweet CCC cash that's available to them.

Planet Money
What happened to U.S. farmers during the last trade war

Then they remember that they've got that special pot of money, the Commodity Credit Corporation, that sweet, sweet CCC cash that's available to them.

Planet Money
What happened to U.S. farmers during the last trade war

Then they remember that they've got that special pot of money, the Commodity Credit Corporation, that sweet, sweet CCC cash that's available to them.

Planet Money
What happened to U.S. farmers during the last trade war

Basically, they were going to need to pull a lot more money out of that fund than usual to reimburse the farmers. But this was an emergency, and they quickly decide that the CCC money is their best option.

Planet Money
What happened to U.S. farmers during the last trade war

Basically, they were going to need to pull a lot more money out of that fund than usual to reimburse the farmers. But this was an emergency, and they quickly decide that the CCC money is their best option.

Planet Money
What happened to U.S. farmers during the last trade war

Basically, they were going to need to pull a lot more money out of that fund than usual to reimburse the farmers. But this was an emergency, and they quickly decide that the CCC money is their best option.

Planet Money
What happened to U.S. farmers during the last trade war

What they had was about $12 billion in the CCC to work with. But they don't want to spend all of that at once. And who knows how long these trade wars are going to go on for.

Planet Money
What happened to U.S. farmers during the last trade war

What they had was about $12 billion in the CCC to work with. But they don't want to spend all of that at once. And who knows how long these trade wars are going to go on for.

Planet Money
What happened to U.S. farmers during the last trade war

What they had was about $12 billion in the CCC to work with. But they don't want to spend all of that at once. And who knows how long these trade wars are going to go on for.

Planet Money
What happened to U.S. farmers during the last trade war

So Rob and his team at the USDA make some detailed calculations. Which crops are affected? By how much? How much money do we have? Who is eligible? And they come up with a formula. And they use it to launch a program that gets a fun name, the Market Facilitation Program. And farmers apply for funds at their local USDA office.