World Perspectives

Budget Targets for FY 2019

Both the farm bill and FY 2018 spending authority for the federal government expire on 30 September. This means that in addition to the farm bill conference, Congress must also pass a budget for FY 2019. The Congressional Budget Office (CBO) recently released some estimates of spending cuts in the budget necessary to reduce the federal debt, which today stands at 78 percent of gross domestic product (GDP) and is expected to grow to 152 percent by 2048 versus 41 percent over the past 50 years. The third benchmark for the spending targets is to have federal debt at 100 percent of GDP. If lawmakers wanted to lower debt to 41 percent of GDP by 2048, the primary budget deficit would have to be reduced to 3 percent of GDP and held there for 29...

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From WPI Consulting

Forecasting developments in production agriculture

On behalf of a private U.S. agricultural technology provider, WPI’s team generated an econometric model to forecast the movement of concentrated corn production north and west from the traditional U.S. Corn Belt. WPI’s model has subsequently provided quantitative support to a multi-million-dollar investment into short-season corn variety development. WPI’s methodology included a series of interviews with regional grain elevators and seed consultants. Emphasizing outreach and communication with stakeholders who possess intimate sectoral knowledge – on-the-ground insights – is a regular component of WPI’s methodologies, made possible by WPI’s ever-growing network of industry contacts.

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