Foreclosure of a Dream by Megadeth

Album: Countdown to Extinction (1992)

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Songfacts®:

This lyrics were mainly written by bass player David Ellefson, whose family ran a farm in Hartland, Minnesota, but lost it to foreclosure. Ellefson blamed the policies of President Ronald Reagan for allowing the agricultural corporations to drive family farms out of business.

"It was speaking specifically about the hardships that the farmers were having, that started when I left home in 1983 when I went to California," Ellefson said in his Songfacts interview. "It was a three-year time when we saw Farm Aid and really the implosion of the farming community that was largely based on Ronald Reagan's policies. It was the Cold War during the Ronald Reagan era - I believe there were sanctions against Russia where we stopped shipping grain over to Russia, which caused this surplus, which of course caused prices to crash and farmland to decrease in value."
This song has a very specific inspiration, but according to Ellefson, it can apply to anyone whose dreams are shattered by economic hardship, especially when it's due to political intervention. When the song was released, America was in the midst of recession and many people were struggling.
This politically charged song remained pertinent many years after Megadeth recorded it. When the band toured in 2012, it was included in their setlist, with Mustaine often introducing the song by saying its message of economic hardship was just as relevant 20 years later.
The title came from something Ellefson and Mustaine saw on the TV in 1986 when they were visiting Ellefson's parents in Minnesota after making the Peace Sells... But Who's Buying? album. In 1991, they thought of the title when they started working on the Countdown to Extinction album, so they turned it into a song.

Comments: 11

Answering Back At Folks Like “deidra From In” from California, At That Time IowaI watched farms get decimated in the late 70s/early 80s, Russia’s bs called for extreme cutoffs , and they lost in the end. However, as a California girl “walking beans” I saw the CHEMICALS -one sign each for a different chemical every four rows of corn-THAT REAGAN used. In return for not foreclosing AGAIN, farmers sold off a portion of land to be tested on to keep the rest of their multigenerational farms. “NO NEW TAXES“ = a facade for lobbying bonanza “Leading the pack is Dow Chemical, which spent $ 2.6 million, followed by Chevron U.S.A, which just topped the $2 million mark for the quarter”

“Those who don’t learn history are doomed to repeat it” and sadly the republicans of today are attempting just that with their “crisis theory” every day shock & vulgarity.

People need to stop pointing at each other and remember to point up at your representation in congress.
As for more facts here we go
Responding to the Farm Crisis. President Clinton and VP Gore were determined to assist America's farmers & ranchers who suffered through the third year in a row of low commodity prices, crop and livestock losses from severe drought and flooding (44 states). Together they won nearly $14 billion in emergency assistance for farmers/ranchers since passage of the Freedom to Farm Act in 1996. Since the 1996 FFAct didn’t provide income loss relief as hoped, they fought for another $11 billion package to strengthen the farm safety net through 2002 when the next farm bill was to be enacted, to counter-cyclical income assistance, crop insurance reform, a major conservation program initiative.

In 1999, Clinton/Gore’s AG Dept. experienced an unprecedented demand for farm loans and loan guarantees. The USDA responded by providing over 37,000 loans and loan guarantees, totaling $3.9 billion -- 11,000 loans and $1.7 billion more than in 1998.

Drought costs ranchers and farmers an estimated $6-8 billion a year, more than damages caused by floods or hurricanes. In 1999, during one of the worst droughts in U.S. history, counties in 44 states were declared agricultural disaster areas, making emergency loans available to tens of thousands hard-hit farmers. Virtually the entire East Coast was declared a disaster. In May 2000, Secretary Glickman unveiled the National Drought Policy Commission's report on the need for an integrated, coordinated federal policy, designed to prepare for and respond to serious drought emergencies. Clinton-Gore Administration reduced premiums for crop insurance by approximately 30 percent in 1999, helping boost the number of farmers with insurance. In 1998, nearly $27 billion in protection was provided on 181 million acres through more than 1.75 million policies; almost double the $13.6 billion protection on the 100 million acres insured in 1994. They worked with Congress (something Trump screws up on royally) and on May 25, 2000, the House and Senate passed the $15 billion Agricultural Risk Protection Act of 2000. About $8.2 billion is targeted for crop insurance, of which approximately $5.6 billion will go toward reducing premiums on federally subsidized crop insurance over the next five years. Force, at the Agriculture Department, purchased more than 118 million pounds of pork worth nearly $127 million, to be used in Federal nutrition programs. Their Administration's Pork Crisis Task Force, at the Ag Dept.expanded efforts to assist U.S. pork packers & processors marketing their pork products through brand initiatives and quality management system verification. The Clinton-Gore Administration made more than $50 million in direct cash payments to thousands of family farm hog producers to help them cope with disastrously low hog prices.

Clinton-Gore Administration has worked to help offset a surplus of cattle that has depressed prices for ranchers, farmers, and feedlot operators. In December 1998, Vice President Gore announced that the Agriculture Department would buy up to $20 million in U.S. beef, to be used for the school lunch program, and to help improve prices in the beef and livestock industry.

Reaping the Benefits of Free Trade. In FY 1998 alone, American agricultural exports totaled $53.6 billion, creating an estimated 815,000 full-time jobs. Trade-dependent agricultural jobs pay higher than average wages and support a wide range of professions in both urban and rural communities. Each dollar in U.S. agricultural exports creates another $1.28 in related economic activity, generating about $122 billion of total economic activity last year. [1999 Annual Report of the Secretary of Agriculture; White House Fact Sheet, 12/1/99]
“Opening Foreign Markets for America's Farmers. The Clinton-Gore Administration has worked hard to open foreign markets to American agricultural products, breaking nearly 80 barriers stifling U.S. farm trade in 1998 alone. Since 1993, the Administration has opened markets and expanded opportunity through NAFTA, GATT and nearly 300 other free trade agreements. In the next round of World Trade Organization negotiations, President Clinton is determined to work to open additional markets abroad and level the playing field for U.S. agriculture products.” [Agriculture Department; National Security Council]
“Agricultural Cooperation Agreement with China.In April 1999, the Administration signed the Agreement on U.S.-China Agricultural Cooperation, with China agreeing to end longstanding bans on imports of U.S. wheat, meat, citrus and poultry. The agreement also called for China's commitment to the application of sound science in trade issues, a key principal of the World Trade Organization Sanitary and Phytosanitary Agreement. When this Cooperation agreement is fully implemented, annual U.S. agricultural exports will increase by an estimated $900 million. [1999 Annual Report of the Secretary of Agriculture]”
Record Foreign Food Aid Assistance. The U.S. provided nearly 8 million metric tons of U.S. commodities to nearly 50 countries, almost five times last year's 1.6 million and the largest tonnage in recent years. In July 1998, President Clinton announced that the U.S. Government would purchase more than 80 million bushels of surplus wheat from American farmers, to help lift prices in America and ease hunger in the developing world. [1999 Annual Report of the Secretary of Agriculture; USDA Food Aid Initiative, 8/7/98]
“Combating Invasive Species. USDA's Animal and Plant Health Inspection Service (APHIS) has launched an all-out offensive against alien invasive species that threaten environmental resources and human health. APHIS is working with the Centers for Disease Control and Prevention and other Government agencies to prevent another serious outbreak of West Nile fever, a mosquito-borne virus that caused seven deaths in New York in 1999. USDA is also working across the country to control exotic weeds that spread and crowd out native plants. Approximately 3 million acres-an area twice the size of Delaware-are lost to invasive plants each year. Invasive species cost the United States an estimated $120 billion annually.”
“USDA's Single Family Housing program reaches more rural people in need than almost any other housing program. In 1999 alone, the Clinton-Gore Administration invested $5.1 billion in rural housing through this program, providing over 66,000 new or rehabilitated homes for low and moderate income families -- including over 600 units for domestic farm laborers. In a typical year, Rural Development programs enable 60,000 to 70,000 rural Americans to buy homes and help 460,000 low-income rural Americans to rent apartments or other housing. [1999 Annual Report of the Secretary of Agriculture]”

I could go, but as I do, I see everything even more clearly that the GOP are destroying for Trump. Rather than debating on the floor so everyone knows why it’s a bad idea to destroy these agencies, they were put in place for a reason. With weather/droughts/fires have been increasing in all states, RED & BLUE, we need to be helping, not pointing at, our neighbors.
Nubz from NowhereHey Dave, did you crybabies there in the midwest ever look into that science thing that shows how that is one of the worst olaces in the world to run a farm and live?
Terry from Kennesaw, GaI'm glad I finally looked up the meaning, that's pretty interesting. For a while I thought it was about not letting your dreams die. Or "foreclosure" on your dreams, aka keeping them from others, basically hiding them so they never have the legs to blossom.
Deidre from InEllefson is correct to a point, but it's not Reagan. TPP was coming around. Reagan was trying to end the Cold War and wanted amendments in TPP because he knew it was detrimental to the U.S. TPP had a different name, and then came NAFTA with Clinton. Mr. I Did Not Have Sexual Relations With That Woman, did not make ANY of the proposed changes and signed NAFTA to deal. Mexico was in a drug war (how rare) and their president was indicted. Bill took advantage of his position and people and pushed the globalist agenda further. Get the facts Ellefson. I get it, I grew up that same time and on a farm. You can't just say one person, Reagan. No and there were amendment proposals. Trans Pacific Partnership..(UGH)
Travis from Charleston, WvJustin, why do you think anyone here cares?

Moving on, go watch the music video if you have any doubts. It makes it pretty clear.
Jeff from La Pine, Ori thought this song was pretty good the mellow acoustica parts and the lyrics are amazing
Justin from Moncton, NbOh Yeah, The Former Bassist Dave Ellefson Helped out A New Band From Toronto a little.. they're Called Warmachine, Their Awesome Too..Check them out (www.myspace.com/warmachine - or - www.warmachineonline.com) :D
Justin from Moncton, NbThis Song Is Awesome..Most Megadeth Songs Are Though, If You Listen To Them Well..And Freaky (where both from moncton Ashley) lol
Slayking from Santiego, ChileI really dont know why, but ive allways thought of this song-a great one, i must add- as a love song about deep loss.
Ashley from Moncton, CanadaThis is my favourite Megadeth song. I'm not a real fan, but this song is awesome.
Mike from Santa Cruz, CaDave Mustaine needs a podium.

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