LETTER: Reagan supported farmers during crisis
To the Editor:
In The Daily Republic article on Feb. 15, on the farm crisis, one point was not brought out very clearly. The farm crisis of the early 1980s was largely brought on by the incredibly high interest rates of 15 to 20 percent on farm loans during the Carter administration. These rates put farmers and ranchers deeply in debt in the early 1980s. The Reagan administration lowered these rates to around 6 percent.
Ronald Reagan won two landslide elections and the support of a big majority of farmers and ranchers, which contradicts the criticism he received in this article.