US To Materially Expand Food Stamp Program As America Prepares For Surge In “Poverty Effect”
by Tyler Durden
One of the sad side effects of the recent record in food stamp participation is that apparently the 44.2 million Americans who now subsist below the poverty line and rely on the government for basic food needs, have become quite a drag on otherwise insolvent state and local governments. And with monthly increases projected to keep rising in line with the Russell 2000 as the Wealth Effect is constrained to Wall Street, and no end in sight to the Poverty Effect, states are getting nervous. Never fear: the US taxpayer is here. In a press release, the USDA has just announced that it “will award grants to improve access to and increase participation in the Supplemental Nutrition Assistance Program (SNAP). The grants are for state and local governments and private non-profit organizations to develop projects that simplify SNAP application and eligibility systems and find efficiencies in the administration of the program with the goal of providing critical nutrition assistance to those in need.” Translation: the Fed is about to add the bailout if the Food Stamp program to the infinite list of subsidies that rely exclusively on the generosity of Vassarionovich-Packard.
And the funniest thing about the release, if one can call the progressive conversion of America to an improverished country funny, is the math provided by the USDA to justify the expansion of SNAP.