In the wake of last week's State of the Union address, there has been a lot of talk around the proverbial water cooler regarding the direction in which we, as a nation, are headed.

In a nationwide broadcast that once seemed to only tout America's triumphs, the president drew our attention to the triumphs of other nations. He urged us to work together to drive innovation and success, saying that from this point, the discussion needs to be: Will new jobs and industries take root in this country, or will they invest in their future elsewhere?

Since the start of the recession, we have endured a string of misfortune with—what seemed like—no end in sight. As unemployment lingers at 9.4 percent and job growth remains paralyzed due to the hiring freezes implemented by several major U.S. industries, household debt continues to rise and major economic sectors continue to suffer.

So, what is it that is preventing an economic meltdown and has economists talking recovery?

Just two weeks before President Obama addressed the nation, his own Federal Reserve released a white paper that shed some light on that question.

The title, "A Rural Rebound in 2010" leaves little to the imagination. And the first sentence, "In 2010, rural America was at the forefront of the economic recovery," leaves no doubt.

The paper looked back on the state of rural America throughout the year, when "robust agriculture and energy markets...fueled gains in manufacturing and service activity to overcome headwinds of a weak housing sector." And unless upended, "rural America could lead economic gains in 2011."

Here's how the success story unfolded.

With demand for staple crops and agricultural products steadily rising—due to growing populations and rising incomes worldwide—U.S. farm families have made significant investments in equipment and technology, greatly increasing the sector's productivity.

All told, farmers and ranchers produced $332 billion worth of goods last year after they spent $187 billion to purchase inputs, made $62 billion in rent payments, paid $26.2 billion in wages to employees, and spent $14 billion in interest and financing.

That's a lot of economic activity reverberating from the Heartland to the coasts[\, resulting in a lot of goods available for export, further boosting our economy.

According to Agriculture Secretary Tom Vilsack, farm exports are predicted to reach $126.5 billion in 2011 alone—an all-time record high.

That should be music to President Obama's ears, who bluntly said during the State of the Union, "[T]he more we export, the more jobs we create here at home."

And speaking of jobs, 21 million of them are rooted in U.S. agriculture.

So one has to wonder, what could stop this juggernaut?

Unfortunately, we might be our own worst enemies. Burdensome environmental regulations and uncertainty in tax laws and policies that help producers withstand collapses in crop prices and natural disasters are just some of the challenges emanating from within.

Is it smart policy to attack agriculture right now? According to the numbers, it wouldn't appear so.

"Our destiny remains our choice," the president concluded in his speech.

Here's hoping we make the right one.