The 2013 Economic Report of the President, an annual report written by the Chair of the Council of Economic Advisers, was released on Friday, March 15. An important vehicle for presenting the Administration’s domestic and international economic policies, the report provides an overview of the nation's economic progress. This year, it includes a chapter on agriculture, which can be found here, "Chapter 8: Challenges and Opportunities in U.S. Agriculture." It concludes:
"The President believes that a vibrant U.S. agricultural sector is vital for the Nation's prosperity...Persistent gains in efficiency have defined American agriculture and nearly tripled farm productivity in the second half of the twentieth century. To continue this tradition and maintain the strength of the sector, the Nation must continue to invest in agricultural R&D, helping farmers find new ways to grow more with less and to continue their stewardship of natural resources for future generations. The agricultural sector is increasingly vulnerable to price volatility because of the globalization of agricultural commodities, volatile weather conditions as a result of climate change, and changing consumption patterns. To cope with these challenges, U.S. agriculture must stay at the forefront of agricultural innovation."