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in nis statement to tne senate Committee, the Secretary said realized net income per farm is estimated to be S4.000 as compared to S3.727 in 1964 and $2,956 in I960. ‘Prospects fur maintaining this improved level of performance will depend on the continuing stability of the Nation’s economy and on the actions taken by the Congress on the President’s food and agriculture proposals now pending, which would extend and improve the policies which have proven so successful duF ing the first five years of this decade,” Secretary Freeman said. lie noted that although farm income has strengthened in the past five years, food is still a better bargain then ever before. “This year, food costs for the average consumer will take 18.3 percent of income after taxes. In I960, food required 20 percent and the diet was much less abundant in beef.* ‘If the same percentage of income was spent for food in 1965 as in 19o(). consumers would have had $7 billion less to spend on other things, or about as much as is spent annually for physician care, or more than is spent for radio and television sets, records and musical instruments, the Secretary said.
72.1%