The day after Halloween, the federal government rolled back food stamp benefits for all 47.6 million people who receive them, officially ending one of the last remaining stimulus efforts left over from President Obama's first months in office — while also making it harder for millions of Americans to get enough to eat. The callousness displayed in cutting vital safety net benefits at a time when millions lack the resources to feed their families adequately has been much discussed. What has gotten less attention is that the cut in food stamps is not good economic policy either.

The 5.5% reduction in benefits will pull about $5 billion in federal spending out of the economy over the coming 10 months — $457 million in California alone. Those were borrowed dollars, so the savings bring Washington one small step closer to fiscal sustainability. Yet the federal government won't make it all the way there without faster economic growth, and putting less food on poor Americans' tables won't help.

Congress increased the maximum food stamp benefit by 13.6% in April 2009 as part of the American Recovery and Reinvestment Act, a $787-billion effort to stimulate the economy. It wasn't a temporary increase; instead, it was meant to pay in advance the cost-of-living adjustments that the program was expected to receive over the subsequent five years. And because food stamp benefits are spent quickly, not saved, the increase was expected to help stimulate the moribund economy. By one estimate, every $1 in food stamps leads to $1.70 in economic activity.

Continue reading at:  http://www.latimes.com/opinion/editorials/la-ed-foodstamps-cut-budg...

Views: 101

Reply to This

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone posted a photo

Famine or War What Would it Be

How far are these monsters allowed to go?
5 hours ago
Less Prone favorited cheeki kea's blog post The saddest post I've ever read. ( vaccine victim speaks out. )
5 hours ago
Less Prone commented on cheeki kea's blog post The saddest post I've ever read. ( vaccine victim speaks out. )
"It's so cruel and unfair. So many innocent people fell for it and even now the wictims are…"
5 hours ago
Doc Vega commented on truth's video
Thumbnail

MSM Admits US Funding Al-Qaeda & Taliban Terror Attacks

"In all likelihood if the MSM comes up with an explanation it's probably pure unadulterated…"
6 hours ago
Doc Vega commented on truth's video
Thumbnail

MSM Admits US Funding Al-Qaeda & Taliban Terror Attacks

"Mark Levin talks about all the front groups funded by Soros that have provided revenue for the…"
6 hours ago
Doc Vega favorited cheeki kea's blog post The saddest post I've ever read. ( vaccine victim speaks out. )
6 hours ago
Doc Vega commented on cheeki kea's blog post The saddest post I've ever read. ( vaccine victim speaks out. )
"Sad, but this is the fate of those who don't take heed and refuse to do their due diligence…"
6 hours ago
Doc Vega posted blog posts
8 hours ago
cheeki kea commented on Sandy's photo
Thumbnail

FB_IMG_1710523455761

"Hi Thia I'm back with news.... gvmnt will not protect you from Tick Tock, at this point it…"
10 hours ago
cheeki kea commented on cheeki kea's blog post Dr. Aseem Malhotra's Explosive Court Testimony on COVID "Vaccines"(UPDATED)
"More news dripping out from this story. ( found on Slay news…"
10 hours ago
cheeki kea commented on cheeki kea's blog post The saddest post I've ever read. ( vaccine victim speaks out. )
11 hours ago
cheeki kea posted a blog post

The saddest post I've ever read. ( vaccine victim speaks out. )

You know what, I think if God had a message for us here it would be the one that goes... Be as Wise…See More
13 hours ago
Burbia commented on Burbia's group The Comment Section is Closed
"So far, there are 14 comments here for the video about Iran's influence on Generation Z and…"
yesterday
tjdavis posted videos
yesterday
tjdavis posted photos
yesterday
Doc Vega posted blog posts
Tuesday
Larry Harmen posted blog posts
Tuesday
Larry Harmen posted videos
Tuesday
cheeki kea commented on Less Prone's photo
Thumbnail

Rebuilding Khazaria

"Perhaps Russia and Ukraine should Rebuild the Tartarian Empire. Then game over. "
Tuesday
cheeki kea commented on FREEDOMROX's blog post NEVER FORGET! WHO and UN charged with GENOCIDE in 2009
"This is Why the outlier countries Must Stand Up And Fight Them Off on all fronts at all times. For…"
Tuesday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted