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FBN's Jeff Flock on taxpayer and private industry contributions to farmers’ premiums for crop insurance.
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-- -- -- -- -- Well the something also that watching for you while the drought that has gripped much of the country this summer will cause a financial tall on America's farmers.
The cost may also be on.
You the US taxpayer Jeff Flock joins us now from fair burning on the -- but closer look at the story -- We have been looking at this story every which way we can take a look at what's happening right here as -- they are chopping this -- is a harvest.
But not a good harvest it's a harvest of shame almost this year with the amount of crop that we've got out here this is.
-- keep in harm's field you'd normally get about 200 bushels out of this.
What now where we just had a field appraised and like you say the ten year averages over 200 bushel and they appraised at less than five bushels per acre five bushels an acre.
This is said the man with the insurance company here countrywide -- Worthington and the go ahead you -- shop and air I don't wanna gum up the works here.
Federal crop insurance lot of people understand how it works.
It's a cooperative venture between companies like -- -- a federal government let's put the graphic up that shows.
How much taxpayers contribute to the program how much the private industry contributes.
There'd be no way to write a federal crop insurance policy if you did it just by actual early.
Actuarial -- -- the premiums would be just isn't good affordable totally.
And Erisa -- by the companies will be young I'm an acceptable running and so this is why the government steps in these are adjusters that you see right here they're determining the amount.
Of coordinates -- gonna get in this year and some of these -- is he just said.
Maybe four or five bushels to the -- pretty crazy I guess I leading -- with this.
Look right up here.
This is what it looks like Acorn gets harvest when there's not going to be any thing.
Pretty bleak -- out here.
All that's only tells the story -- Jeff Flock thank you very much now -- we're definitely doesn't break.
