Quick hits: Dairy farming with a robot; CSA debate; Farmers' Almanac ends; rural hospital success; goodbye penny

A robotic milker takes the place of a hired hand as dairy
farmers face labor shortages. (Farm Progress photo)

Marlane Williams always dreamed of owning her own farm and milking her own dairy cows. Now she has both, along with a robot that helps out while she's at a day job that provides income stability. "Williams has held several jobs while trying to be a dairy farmer," reports Chris Six of Farm Progress. "She's owned a dairy farm in southwest Missouri since 2002 and says balancing both is tricky, but she feels blessed to have achieved her dream." Instead of trying to hire part-time labor, Williams purchased a Lely Astronaut milking robot to make sure her growing herd is milked twice a day.  

The debate over whether the Community Supported Agriculture model is dead or alive continues, with a fresh perspective from Ruth Katcher, who runs a thriving CSA for city folk in Brooklyn, New York. "I’ve been mulling over Lauren David’s thought-provoking article on whether we’ve outgrown the CSA model," Katcher writes for Offrange. "I have to admit she made some excellent points, especially about the appeal of models that offer more choice to consumers than traditional CSAs. . . . But the traditional CSA model has features I would hate to give up . . ." Read Lauren's essay here, and Katcher's full counter here.

Pecan trees don't have to be planted every year. 
(Photo by Elizabeth Hewitt, Reasons To Be Cheerful)

In a drastic turn from traditional row-crop agriculture, some Midwestern farmers are planting nut trees that are reviving soil depleted by corn and soybean plantings. "In 2017, Josh Payne planted 20 acres of chestnut saplings, growing commodity crops in wide rows between the trees," reports Elizabeth Hewitt for Reasons To Be Cheerful. "Payne is among a growing number of farmers looking to supplement or even replace common crops planted annually — like corn and soy — with various types of nut trees. . . which can provide a type of multi-generational resilience because they can generate income for decades."

U.S. Mint photos

The U.S. Treasury Department laid the U.S. penny to rest on Nov. 12 in Philadelphia after producing it for 232 years. Victor Mather of The New York Times reports, "Top Treasury officials were on hand for its final journey. No last words were recorded. The cost to mint the penny had risen to more than 3 cents, a financial absurdity that doomed the coin. The American penny was preceded in death by its smaller sibling, the half cent (1793-1857), and its cousin, the Canadian penny (1858-2012)."

Internal medicine residents at Billings Clinic 
in Montana. (Photo by Colton Adams via the Yonder) 

A community hospital in Billings, Montana, is bucking trends with its successful medical residency programs, which train new doctors who often decide to stay in the state and practice. "As rural areas across the country face worsening provider shortages and reductions in health care services, Billings Clinic is celebrating the success of two new residency programs training," reports Madeline de Figueiredo for The Daily Yonder. "Since launching its internal medicine residency program in 2014, Billings Clinic has graduated 75 physicians, with half now practicing in rural communities. The program’s outcomes stand out amid national trends, where only 11% of physicians work in rural areas."

After more than two centuries of publication, the Farmers' Almanac from Maine announced that 2026 is its last print run. "The 208-year-old, Maine-based publication that farmers, gardeners and others have relied on for planting guidance and weather predictions will publish for the final time," report Patrick Whittle and Kathy McCormack of The Associated Press. "The Farmers’ Almanac, not to be confused with its older, longtime competitor, The Old Farmer’s Almanac in neighboring New Hampshire. . . . The almanac cited the growing financial challenges of producing and distributing the book in today’s 'chaotic media environment.'" The first Farmers' Almanac was published in 1818.

As Americans dig into frugality, consumer companies feel the pinch

Some U.S. consumers are learning how to stretch
their staples to save money. (Adobe Stock photo)

As creeping grocery inflation continues, U.S. consumers are clamping down on spending by resurrecting saving and stretching tactics, which is translating into slower sales across the sector. "People are experimenting with frugality, and it is affecting sales at consumer companies," reports Natasha Khan of The Wall Street Journal. The more families pinch pennies, the less they spend.

Devising ways to save on staples has led some consumers to begin diluting products, such as dishwashing liquid or cleaners, to get more while using less. Some have decided you don't need a toothbrush full of toothpaste to prevent cavities -- a single dollop at the end of the brush can do the job.

For many consumers, scrapping every bit here and using a little bit less there can save precious dollars, while consumer companies see sales slip. Khan explains, "Procter & Gamble reported volume declined 2% in the latest quarter in its home and fabric-care division, which includes brands like Tide detergent, Dawn dish liquid and Swiffer dusters."

Even as brand-name purchases have dipped, generic product sales haven't increased, suggesting "consumers are using up their inventory and making their existing stock last longer, rather than trading down," Khan adds.

Many consumer companies hope Americans will tire of scrimping and return to their less frugal habits. Andre Schulten, P&G’s chief financial officer, told analysts and investors, "I’m convinced this is temporary."

The Republican tax break plan would give many Americans more money, but most cuts would end in early 2029

 Many lawmakers seek Medicaid cuts to pay for
the new tax legislation. (Adobe Stock photo)

The tax break plan currently being crafted by Republicans on Capitol Hill would put more cash in the hands of many Americans, but the strategy comes with a catch: Many of the cuts will end when President Trump's second term comes to a close. "Almost all of the cuts that Republicans hope to pass in the coming weeks will last only until President Trump is set to leave office," reports Andrew Duehren of The New York Times.

Despite the short-term gains, many Americans may see the cuts as a hard-earned respite from years of post-pandemic inflation. They include "a $500 increase to the child tax credit and a $1,000 bonus to the standard deduction, as well as Trump’s pledges to not tax tips or overtime pay," Duehren writes. "The effect would be to shower many Americans with hundreds of dollars per year, starting when they file taxes next year, a windfall that would dry up as Mr. Trump leaves office."

Not every tax break will be time-limited. "Much of the legislation is focused on preserving the architecture of the last Republican tax cut, passed during Trump’s first term," explains Duehren. For instance, the lower income rates for individual filers and the larger standard deduction would remain intact.

Tax policy experts do not see the new cuts substantially impacting the U.S. economy. Duehren reports, "The Tax Foundation, a think tank that is generally bullish on tax cuts’ ability to spur economic growth, estimated this week that the bill would increase gross domestic product by 0.6% in the long term."

Part of the money needed to pay for the tax cuts will come from Medicaid cuts. "More than eight million low-income Americans could lose their health insurance as a result of the Medicaid cuts that the G.O.P. has drafted," Duehren adds. "All while the biggest benefits of the tax cuts would flow to high-income Americans who owe the most in income tax . . . ."

Federal plan to provide internet access to more rural areas might include satellite service, which has fans and critics

A new bill would allow satellite internet in rural
areas. (Adobe Stock photo)

Despite bipartisan congressional support for all Americans to have access to speedy internet, discussions on how to get the job done have fallen along party lines, with many Republicans bemoaning the $42 billion Broadband Equity, Access and Deployment program as too slow and overly attached to using fiber technology. "New legislation looks to address those complaints," reports Chris Teale of Route Fifty. "The legislation would amend the 2021 bipartisan infrastructure law and loosen several requirements."

Rep. Richard Hudson, a North Carolina Republican, "introduced the Streamlining Program Efficiency and Expanding Deployment for BEAD Act, known as the SPEED for BEAD Act," Teale explains. The bill "would clarify that any technology, including satellite internet, can be used to help close the digital divide, and would eliminate what Hudson called 'burdensome' regulations."

While several trade groups "expressed their support for the bill. . . . not [everyone is] convinced that changing BEAD at this stage is the right course of action," Teale reports. "With every state and territory having had their deployment plans approved by the National Telecommunications and Information Administration and several states ready to distribute grant funding and deploy infrastructure, some warned that a change now could delay the program further."

Others insist that spending federal dollars on satellite internet will enrich satellite owners while providing only sub-standard internet access. When Evan Feinman, who had directed BEAD for the past three years, quit, he sent "a blistering email to his former colleagues on his way out the door warning that the Trump administration is poised to unduly enrich Elon Musk’s satellite internet company with money for rural broadband," reports John Hendel of Politico.

Feinman’s "lengthy email, totaling more than 1,100 words is a sign of deep discomfort about the changes underway that will likely transform BEAD," Hendel writes. Feinman warned, "'Stranding all or part of rural America with worse internet so that we can make the world’s richest man even richer is yet another in a long line of betrayals by Washington.'"

Making money off of money can be done at many banks, but they don't have to disclose better deals

Banks don't owe consumers their best
deals. (Adobe Stock photo)

Americans who choose banks with higher savings interest rates can make more money with little work; however, some U.S. banks hope consumers are too confused or hassled to bother making a switch.

"For the last few years, anyone keeping $10,000 in a high-yield savings account has earned close to 4% annual interest, or about $400 a year," reports Ben Blatt of The New York Times. "The nation’s three largest banks — Bank of America, Chase and Wells Fargo — offer 0.01% on their standard savings accounts. That works out to $1 in interest a year for a $10,000 deposit."

Sometimes banks offer additional perks to make up for their abysmal rates, but most believe "their customers won’t hunt for better deals out of inertia," Blatt explains. "Banks know their customers are generally not attentive to account details. A study commissioned by Capital One found that many people check their savings account less than once a month, and about half don’t know what interest they are earning."

While it may sound unethical, banks "have no fiduciary duty in many cases and can profit from customers’ confusion," Blatt reports. "The Consumer Financial Protection Bureau said one bank, Capital One, went too far by intentionally creating confusion so that customers wouldn’t know to switch to a higher-paying account at the same bank."

While sowing confusion may be wrong, part of a bank's purpose is to make money. Scott Pearson, a lawyer who represents banks in regulatory matters, told Blatt, “I don’t know why anyone would think that it’s the bank’s job to tell you that you can get a better deal somewhere else or that they’ll give you a better deal. That is just kind of a shocking and unprecedented theory in my view.”

Some inflated costs may be going down, but weary Americans can't control the prices of many necessities

When U.S. families sit down to do the budget, some costs
aren't negotiable. (Adobe Stock photo)

As U.S. inflation slowly tracks downward, some painful increases remain difficult for Americans to afford. "Prices for many of the things that are hard to do without are still posting eye-watering increases. Rent and electricity bills are up 10% or more over the past two years, and car-insurance costs are up nearly 40%, according to the Labor Department’s index," report Hariett Torry and Terell Wright of The Wall Street Journal. "Shoppers might be able to trade down from prime steak to cheaper cuts of meat at the supermarket, but they can’t really do the same thing with the water bill."

While some citizens have made grocery store swaps, some have cut "luxuries" such as eating out or trimming kids' extracurricular activities. Still, Americans have costs such as housing, insurance and child care that are at historical highs but are also necessities. "In the Consumer Price Index, shelter costs — a measure of rent and the equivalent cost to homeowners, as well as lodging away from home and household insurance — have risen more than 13% in two years," Torry and Wright explain. "Child care costs have risen 6.4% over the past two years. . . . Because daycare bills can be as big as rent or a mortgage, even a relatively small increase can feel like a lot."

Getting to work to make money often means car ownership and the overhead that goes with it. "The cost of transportation services, which includes vehicle insurance and repair, has jumped more than 18% in the past two years, according to the CPI," the Journal reports. "An increasing number of cash-strapped Americans are choosing to drive without car insurance."

Single mom Jasmine Moore's experiences mirror that of many American workers. "Moore missed a payment on her auto insurance about six months ago. Now her monthly bill has doubled," Torry and Wright add. "She canceled her son’s math tutoring sessions and instead tutors him herself. Instead of Publix, she opts for discount grocery stores and food pantries." Moore told the Journal, "I have middle-class pay, but I feel like I’m lower income.”

'Great Wealth Transfer' is coming, and some funders are working to plant philanthropy money in rural communities

Graph by Sarah Melotte, The Daily Yonder,
from Federal Reserve data

Over the next two decades, tremendous amounts of American wealth will transfer from generation to generation. "In the next 20 years, about $84 trillion will change hands. . . . Economists call it the Great Wealth Transfer," reports Sarah Melotte of The Daily Yonder. "Small-town philanthropies hope to capture some of that wealth for the benefit of historically underfunded rural communities. . . . Some experts worry the transfer might reinforce economic inequality [but] rural philanthropists are thinking about how people might invest this money to create healthier communities."

Ben Winchester, a rural sociologist with the University of Minnesota Extension, told Melotte, “You can get your cup under this wealth that potentially is going to be transferred, and pour it back into your town and bring that wealth here." 

As part of his research, Winchester recently released a report on the Great Wealth Transfer in rural Minnesota. "The report found that in the coming decade, $5.6 billion will change hands across 10 central Minnesota counties," Melotte explains. "If local foundations could capture even one percent of that transfer, it could funnel $56 million into local infrastructure."

Philanthropic work can build additional supports across a wide range of needs within rural communities that have "often been left out of larger sources of both private and public funding," Melotte writes. “Many rural economies also suffer from long-term lack of investment. As a result, residents of nonmetropolitan counties are more likely to live in communities with persistent poverty."

Executive Director Erin Borla of the Roundhouse Foundation, a rural philanthropy in Oregon, asked Melotte, "If you’re from a farming community, or a logging family or whatever the rural livelihood was, does the next generation [who controls that wealth] live in that same community?” Melotte adds, "Borla said that the local wealth that is generated in a rural community can end up redirected to other economies throughout the country as people move away. Small-town foundations are aware of this trend, according to Borla, which is why they’re focused on directing those funds back into local projects."

Rural Minnesota is receiving wealth-transfer guidance from one of its foundations, CommunityGiving. Steve Joul, president of CommunityGiving, advises rural communities to envision what a healthier future for their town might look like. Joul told Melotte, "You need to have all the players at the table. It’s an open invitation to the community to come to the table to craft an idea and vision for where you want to go.”

According to Joul, everyone means everyone. Melotte adds, "Joul emphasized the importance of avoiding the common trap of only including residents with power and resources. Engaging more stakeholders helps mitigate worsening wealth inequality."

Quick hits: Locally made farm tools; anger can hurt your heart; cybersecurity for farms; finding lost treasure

Conor Crickmore, owner of Neversink Tools, does a training video. Crickmore's company
focuses on improving or upgrading existing tools. (Neversink Tools photo via Modern Farmer)

In rural America and beyond, buying locally can have a bigger reach than signing up for Community Supported Agriculture or visiting the farmers market. "If we want a future with more farmers, more fresh, healthy food and stronger local economies, we need infrastructure that supports small growers," reports Melissa Julia of Modern Farmer. "Locally made tools, from hoes to tractors, are an important part of that support system and confer many of the same advantages as locally grown food. . . . Meet three U.S.-based toolmakers who want to change the landscape of tool buying and making to support their local farmers and communities."

Just about everyone gets angry at one time or another, but the emotion can increase the chance of heart attacks. "Researchers examined the impact of three different emotions on the heart: anger, anxiety and sadness," reports Sumathi Reddy of The Wall Street Journal. "Those in the angry group had worse blood flow than those in the others; their blood vessels didn't dilate as much." Dr. Daichi Shimbo, a professor of medicine at Columbia University and lead author of the study, told Reddy, "We speculate over time if you're getting these chronic insults to your arteries because you get angry a lot, that will leave you at risk for having heart disease."

Nordic residents tend to trust in the kindness of
each other. (Adobe Stock photo)

If repeated bouts of anger are unhealthy, what can Americans do to become happier? Research on the happiness levels of some Nordic countries may provide clues. "Nordic countries have managed to enter a very virtuous cycle, where efficient and democratic institutions can provide citizens security, so that citizens trust institutions and each other," reports Camille Bello of Euronews. For countries to model Nordic happiness, professor John F. Helliwell, editor of the World Happiness Report, told Bello countries should focus "on the six key indicators in the World Happiness Report - GDP per capita, social support, healthy life expectancy, freedom, generosity, and corruption."

From extreme weather to labor shortages to fertilizer price increases, farmers have plenty to worry about; however, the average American may not realize that food producers also have to guard against ransomware attacks. "Last year Dole took a hit, losing $10.5 million in an attack that stole the Social Security numbers of nearly 4,000 employees," reports Jaclyn De Candio of Ambrook Research. "Containing the breach impacted half of their servers and several user-end computers, disrupting a portion of their fresh vegetable processing." To learn more about U.S. agriculture's vulnerability to cyberattacks and possible outcomes, click here.

A forest search for coins can be a day of treasure
hunting. (Adobe Stock photo)

Right now, the cost of just about everything seems high, and $100 does not go nearly as far as it used to; however, there is money to be found for those who don't mind searching for lost coins. "Americans toss millions in coins yearly, abandoning them to sidewalks, parking lots, airports and bus seats. Many end up in the trash," reports Oyin Adedoyin of The Wall Street Journal. "For some, it is easy money. Others do it for luck, as a game, or for the satisfaction of noticing life's tiny triumphs. Many find it downright thrilling."

Some farmland Conservation Reserve Program acreage has increased, and as the program continues to evolve, where and how the land is used has changed. "A new program, Grassland CRP, has driven all the gains. This 'working lands program' allows producers to continue some grazing or haying practices," reports Agricultural Economic Insights. "Also, the program has a much lower rental rate, overcoming the decades-long headwind of consistent program dollars but rising rental rates. . . . A few pockets reported county-level acreage increases as the specific facets of the CRP program . . .  have come forward."

The growth of smaller banks and credit unions is outpacing the rest of the industry

Small banks often offer more personal service.
(Photo by Stoica Ionela, Unsplash)

As bigger banks consolidate into mega-banks, an opposing trend is emerging -- smaller banks are attracting new customers and deposits. "While the biggest banks are getting bigger, the smallest are growing too. Community banks, which typically have less than $10 billion in assets and a concentrated footprint, grew deposits by about 1% in the third quarter from a year earlier," reports Imani Moise of The Wall Street Journal. "Credit unions grew deposits by a similar amount. Their loan books grew by 10% and 9%, respectively. Both far outpaced the broader banking industry, according to federal data."

Bank customers opting for smaller banks or credit unions find that "making a switch not only gets them more face time with bankers, but they are also earning more and paying less," Moise explains. "People wanting a smaller bank have an ever-smaller number to choose from. Bank mergers are expected to accelerate this year as lenders seek safety in size after a series of regional bank failures in 2023."

The current market has been tough on mid-sized banks, but smaller banks offer local convenience and more personal customer service for consumers and small-business owners. "Even the biggest banks acknowledge that people like to do some banking in person," Moise reports. "PNC plans to add new branches this year after closing more than 200 last year."

Particularly if problems arise, smaller banks have staff available to solve problems in-person. "Laurie Matta, the chief financial officer for the city of Clarksville, Tenn., decided to move the city’s bank accounts from the U.S.’s fifth largest lender, U.S. Bank, after a mix-up during the pandemic," Moise adds. "It took six months and many unsuccessful attempts to get the bank to correct the error, even though it shared an office building with city hall. . . . She moved the accounts in 2022 to Legends Bank, which is down the street."

As states receive more than $50 billion in opioid settlement money, companies are competing to get some of the funding

Caution is advised with settlement money.
(Photo by JP Valery, Unsplash)

Money from opioid settlements began to hit state coffers in November, and now a long line of companies and service providers want to help states spend it. Experts are urging caution, reports Aneri Pattani KFF Health News. Marketing pitches for everything from funding new psychedelic research to providing law enforcement with lassos instead of tasers have been flooding state and local officials in charge of distributing the more than $50 billion in settlement funds.

The billions in payments were intended as a punishment and warning to drug companies whose aggressive, harmful and often dishonest marketing practices "fueled an epidemic that progressed to heroin and fentanyl and has killed more than half a million Americans," Pattani explains. "The settlement money, arriving over nearly two decades, is meant to remediate the effects of that corporate behavior."

But as the dollars began to flow to states in early November, "a swarm of private, public, nonprofit, and for-profit entities began eyeing the gold rush," Pattani writes. "Some people fear that corporations, in particular — with their flashy products, robust marketing budgets, and hunger for profits — will now gobble up the windfall meant to rectify it."

JK Costello, director of behavioral health consulting for the Steadman Group, a firm that is being paid to help local governments administer the settlements in Colorado, Kansas, Oregon and Virginia, "receives multiple emails a week from businesses and nonprofits seeking guidance on how to apply for the funds," Pattani adds. "To keep up with the influx, he has developed a standard response: 'Thanks, but we can't respond to individual requests, so here's a link to your locality's website, public meeting schedule, or application portal.'"

KFF Health News "obtained email records in eight states that show health departments, sheriffs' offices, and councils overseeing settlement funds are receiving a similar deluge of messages," Pattani reports. "In the emails, marketing specialists offer phone calls, informational presentations, and meetings with their companies. Alabama Attorney General Steve Marshall recently sent a letter reminding local officials and vet organizations to reach out.

While some private sector companies will be partners, "the key, agree public health and policy experts, is to critically evaluate products or services to see if they are necessary, evidence-based, and sustainable — instead of flocking to companies with the best marketing," Pattani reports. "And, ultimately, failure to do due diligence could leave some jurisdictions holding an empty bag."

The sting of high interest rates is hurting farmers, home buyers, consumers and small businesses

Graph by Karl Russell, NYT, from Federal Reserve data

Painful interest rates are not going away anytime soon, and when borrowing money costs more, business sectors, agriculture and consumers all take a hit. "Home buyers, entrepreneurs and public officials are confronting a new reality: If they want to hold off on big purchases or investments until borrowing is less expensive, it’s probably going to be a long wait," reports Lydia DePillis of The New York Times. The sting of rate hikes may be nearing an end, but "market-based measures of long-term borrowing costs have continued rising . . . Governments are paying more to borrow money for new schools and parks. . . . .Companies, forced to refinance debts at sharply higher interest rates, are more likely to lay off employees — especially if they were already operating with little or no profits."

Because borrowing money costs more, smaller banks have chosen to limit the amount of money they borrow from the Federal Reserve and lend more selectively. DePillis writes, "Small banks are at the epicenter of America’s credit crunch for small businesses." Mary Kay Bates, the chief executive of Bank Midwest in Spirit Lake, Iowa, told DePillis, "It’s a trickle-down effect for everyone. . . . We’re not looking at rates coming down any time soon. I really see us taking a close watch and an internal focus, not so much on innovating and getting into new markets but taking care of the bank we have."

For smaller businesses, the increasing costs of credit may mean downsizing. For entrepreneurs, survival becomes the focus. Even farmers are facing some of the fallout. DePillis reports, "Commodity prices have been dropping, helping to bring down overall inflation, but that has depressed farm income. At the same time, high interest rates have made buying new equipment more expensive."

The problem could eventually spread to affordable housing developments and auto manufacturers. "The real problem may arrive in a couple of years, when a new generation of renters begins searching for properties that never got built because of high borrowing costs," DePillis adds. "Car dealers may feel that shift soon. In recent years, dealers made up for low inventory by raising prices. Carmakers have been offering promotional interest deals, but the average interest rate on new four-year auto loans has climbed to 8.3 percent, the highest level since the early 2000s."

In a county with glaring wealth disparities, one reporter looks at how rural is defined and where higher education fits

The Grand Teton Mountains separate Teton County, Wyoming
from Teton County, Idaho. (Photo by Leslie Cross/Unsplash)

About 30 miles and a mountain pass separate Teton County, Wyoming, from Teton County, Idaho, but the county is divided by more than geography: Teton County, Wyoming, has a whopping average $318,297 per-capita income, and Teton County, Idaho, claims a $35,000 average. Higher education reporter Nick Fouriezos of The Daily Yonder discusses three things he learned while visiting the Teton Counties.

Fouriezos writes, "I encourage you to read the piece, which deals with a number of issues being felt across rural America, from how educational institutions and state governments are trying to address workforce gaps to deepening concerns about affordable housing."

When making choices about rural areas, go where the people go. "Earlier this year, the College of Eastern Idaho teamed up with the nonprofit Education Design Lab. . . to design, test, and scale rural postsecondary programs. The college wanted to get feedback from residents of Driggs, a mostly working-class rural town in Teton County, Idaho, which is quickly seeing its own costs rise as people move there while leaving behind its neighboring counterpart in Wyoming.

"To start, the education nonprofit and the college conducted interviews at the local farmer's market. . . . But after spending more time talking to educators in the area, they realized that anybody who could afford to be buying fresh veggies at 2 p.m. on a Thursday probably wasn't their target demographic.

"They shifted gears, doing their next round of interviews while handing out gift cards at the Broulim's grocery store, a popular lunch haunt for construction and service workers in the Driggs area. . . . That moment was a good reminder: If you really want to hear from rural America, don't rely on outliers of the rural experience.

Amid shifting costs, rural communities are feeling pressure to change. Almost every year, Powell Symons says she gets approached by the Jackson Hole Chamber of Commerce to bring the Teton Valley Balloon Rally from Idaho over to the Wyoming side. Even though the offer has become more tempting as the region's disparities deepen, she has resisted so far. . . .To Powell Symons, it would end a four-decade tradition here in Driggs, one that draws Idahoans from all over the state each year. And having had the chance to share their love for those balloons personally, that would be a tragedy."

Higher ed can't attract students who don't feel like they have choices. "For a time, Luna dreamed of going to cosmetology school. Then she could work at a salon, doing the face masks and other lux cleansing rituals people in Jackson are willing to pay so much more money for than in Driggs. . . . Now, those plans seem far off. She has to make payments on the truck and to fix its transmission. She has to pay her share of rent on the mobile home she shares with her uncle and her grandma, who is now 82 and needs just as much help as ever.

"These are the types of decisions many rural students face across the country. It's not just whether a degree will pay off four years from now, or over a lifetime. . . It's more often about whether they can get by today. Not just for themselves, but for those who rely upon them."

Help your community 'know their risk and protect their money' by raising public awareness with this media kit

To increase the public's awareness of deposit insurance and how it can protect people's money in the event of a bank's failure, the Federal Deposit Insurance Corporation developed a national consumer campaign, "Know Your Risk. Protect Your Money."

The campaign reaches people who may have lower confidence in the U.S. banking system or do not use a bank, as well as those who use mobile payment systems, alternative banking services and financial products that may appear to be FDIC-insured but are not.

The FDIC is asking financial institutions, community organizations, government agencies, and others who serve the public to help raise awareness of deposit insurance protections.

Tips on how to spread the word:

• Link to FDIC's Deposit Insurance page from your website (also available en español).
• Publish posts on your own social media channels using the materials on our social media toolkit page and including the hashtag, #IsYourMoneyInsured.
• Review the campaign launch press release to learn more.

To make the topic less daunting, FDIC offers several "Saving Pigs" in English and Spanish to get the conversation going.
                 
           

Progressive Farmer columnist highlights The Economist's highly positive report on the American economy

By Urban Lehner
Editor Emeritus, Progressive Farmer

China's leader Xi Jinping sees the United States as a nation in decline. So do many Americans. It's not surprising, then, that The Economist's April 15 cover story commanded so much attention; for in four deeply reported pages, the Economist presents a mountain of evidence to the contrary.

Anxiety over America's decline, the editors conclude, "obscures a stunning success story -- one of enduring but underappreciated outperformance. America remains the world's richest, most productive and most innovative big economy. Along an impressive number of dimensions, it is leaving its peers further in the dust."

This challenge to conventional wisdom has energized pundits. The New York Times ran two op-ed commentaries on consecutive days. One, by conservative columnist David Brooks, agreed with The Economist, concluding that for all American capitalism's faults, "It has proved superior to all real world alternatives." The other, by progressive economist Paul Krugman, cautioned: "The numbers aren't really as good as they look, and there are shadows over America that aren't captured by gross domestic product."

Agree or disagree with the Economist's conclusion, its evidence is impressive:
-- In 1990, the gross domestic product of the U.S. represented 25% of the world's total. Despite the rise of China, the U.S. still accounts for 25% of the world's economic output.
-- Compared to its counterparts in the G-7, a group that includes Japan and Germany, the U.S. share is growing. Adjusted for purchasing power, the U.S. accounts for 51% of G-7 GDP, up from 43% in 1990.
-- America's income per person was 24% higher than Western Europe's in 1990. It's 30% higher today.
-- Between 1990 and 2022, labor productivity (output per hour worked) rose 67% in the U.S., 55% in Europe and 51% in Japan.
-- U.S. spending on research and development has risen over the past decade to 3.5% of GDP, well ahead of most countries.
-- America spends 37% more on education per pupil than the 23 other rich countries in the Organization for Economic Cooperation and Development and 34% of Americans have completed tertiary education, a proportion exceeded only by Singapore.

And this is only a partial list. The magazine cites other evidence, including statistics showing Americans are more mobile, start more businesses and have much stronger and deeper financial markets. (The magazine doesn't mention another American strength: its highly productive agriculture and food system.)

The Economist concedes there are negatives, particularly income inequality. A lot of the growth in U.S. income per capita went to the "ultra rich," who the magazine says have done "ultra well." At 77 years, Americans' life expectancy is five years shorter than in other rich countries, in part because America's poor get poor medical care.

Yet while the U.S. has the most unequal income distribution in the G-7, the Economist also notes that "a trucker in Oklahoma can earn more than a doctor in Portugal."

Presidents usually get credit for strong economies but the Economist implicitly criticizes both Biden and Trump, warning that their turn to protectionism and industrial policy risks squandering America's strengths.

Income inequality and lower life expectancies are among the negatives Krugman plays up. "Do we care," he asks, "that the rich can afford more and bigger superyachts?" Krugman also argues that while Europe lags the U.S. economically, Europeans enjoy a higher quality of life. Their long vacations give them a better work-life balance.

Unfortunately, in focusing on GDP's limitations as a measuring rod, Krugman ignores the many other dimensions on which the Economist rates the American economy highly.

Moreover, the tradeoff between European and American capitalism is broader than vacations. Brooks calls it "the tension between economic dynamism and economic security." American capitalism, he says, "has always been tilted toward dynamism." And even though this tilt has weakened as U.S. social spending increased, the U.S. economy continues to outperform.

On one thing both Times' pundits agree: American society is a mess. In Brooks' words, "We've lived through a wretched political era. The social fabric is fraying in a thousand ways." No doubt this fraying contributes to the feeling so many have that America is in decline.

There were similar feelings in the 1980s when Japan was on the rise. By the mid-1990s, it was clear those feelings were overwrought.

Will history repeat itself? Today's challenges, external and domestic, may be more serious. Still, by pointing out America's continuing strengths, the Economist has contributed a fresh and helpful perspective.