A federal report focused on the farm crisis.
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The Agriculture Department said 214,000 farms are unable to pay their bills, slightly more than 12% of the 1.7 million farms surveyed. While four out of five farms remain financially sound, the ailing farmers account for the bulk of the nation’s $212-billion farm debt--29% of which is owed by farms having debt-to-asset ratios exceeding 70%. Another 33% have ratios exceeding 40% and thus, in the department’s view, are financially vulnerable.
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