CBS Evening News - 1985-02-22
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Read a transcript preview of “CBS Evening News - 1985-02-22” from malgent, uploaded on 2025-08-06.
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Language: English (YouTube automatic captions)
[0:12] Good evening. This is the CBS Evening
[0:14] News. Bob Schiffer sitting in tonight
[0:15] for Dan Rather. More fury and confusion
[0:18] in Congress and on the nation's farms
[0:20] tonight about farm policy. President
[0:22] Reagan announced a new aid package for
[0:24] farmers, but one farm state senator
[0:26] accused the White House of doing for
[0:28] farming what Bonnie and Clyde did for
[0:30] banking. We have reports from Phil Jones
[0:33] and Meredith Vieiraa.
[0:36] The farm credit crunch loomed over the
[0:37] capital this morning as nervous
[0:39] politicians went to work almost as early
[0:41] as the farmers. Republican senators who
[0:44] had previously aligned with the
[0:45] Democratic filibuster were suddenly
[0:47] attacking the Democrats. They're
[0:49] strictly playing politics now, and
[0:51] that's a sad situation.
[0:52] >> Senate Republicans, anxious to get out
[0:54] of the political bind, invited cameras
[0:56] in when Secretary Block arrived with a
[0:58] letter containing the administration's
[1:00] plans to be implemented with or without
[1:02] the Democrats aboard.
[1:04] >> I am authorized by the president to
[1:06] state that
[1:07] >> the administration had agreed to put
[1:08] into effect significant changes.
[1:10] Commercial banks could now loan farmers
[1:12] money if they could project earnings to
[1:14] cover all the loan. A 10% profit would
[1:17] no longer be required. To help generate
[1:20] bankers, the administration would
[1:21] promise to guarantee 90% of any unpaid
[1:24] loans. However, the administration would
[1:26] continue to demand a 10% profit margin
[1:29] for those getting their loans directly
[1:31] from the federal government instead of
[1:33] banks. This affects the poorest farmers
[1:35] who have a