Yes, I understand that ground water is being depleted. So do most farmers. As the links you posted point out, diminishing ground water leads to higher pumping costs, both because it has to be pumped from deeper under ground, and because wells which used to be very reliable have to have work done on them (acid treatments, shooting, etc) or abandoned entirely. New water wells can be incredibly expensive in areas where the water table is hundreds of feet beneath the surface. That's what's driving investment in fancy equipment to reduce water usage, like computer-controlled center pivot sprinklers.
I think I'm probably guilty of reading too much between the lines of your first comment, but a couple of things about it set me off. First, the assertion that we consume "too much" water because its low price causes us to misperceive its true value. Actually, I agree with you to some extent. Water is being inefficiently used by farmers because, for one thing, the government has its thumb on the scale. Farmers are incentivized by ag subsidies to produce certain crops like corn in quantities that far exceed free market demand. Water usage that couldn't be justified at the free market price of corn can be justified when the government is paying for it.
But, I don't think that's actually what you meant. I think you really believe (or at least you assume without thinking carefully) that water has some kind of inherent value independent of what people are willing to pay for it. Here's the part where I'm really reading between the lines: Usually after someone says a thing like that, they follow it up with "Thar oughtta be a law!" that "corrects" this imbalance in what people are paying versus what water is "truly" worth. Because if we don't, all the drinkable water will run out. It's an argument related in many ways to "peak oil" alarmism that has continued without abeyance for decades now, despite being repeatedly proven wrong by history.
The point I wanted to make is, look, market forces are already taking care of this. Obtaining water is more expensive than it used to be, and farmers are investing in giant, sensationally expensive sprinklers to use less water. And the world keeps turning. Ten or fifty years from now, when there's even less water available at the current price, who knows what it will become economical to pursue? Solar concentrators driving desalination plants. Actual water recycling. Maybe we'll finally be rid of the damn ag subsidies. We don't need anyone telling us what the "true" value of water is to make it last or to prevent us from "over consuming." Prices do that already, when the government doesn't get in the way.
Second, I detected an undercurrent of "greedy American bastards!" in your comparison. I apologize if I'm wrong, but you have to admit that such comparisons are de rigueur. As I pointed out, prices have driven American farmers to adopt the same technology for conserving water that people with a lot of money use in the desert. In fact, I rather suspect the flow of technology occurred in the opposite direction.