POLITICS

A fantastic report about the economic impact of food stamps

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Politics,Beltway Confidential,Charlie Spiering

The Washington Post’s writes a must-read about the economic impact of food stamps in Rhode Island and the dependency experienced by both businesses and families.

At precisely one second after midnight, on March 1, Woonsocket would experience its monthly financial windfall — nearly $2 million from the Supplemental Nutrition Assistance Program (SNAP), formerly known as food stamps. Federal money would be electronically transferred to the broke residents of a nearly bankrupt town, where it would flow first into grocery stores and then on to food companies, employees and banks, beginning the monthly cycle that has helped Woonsocket survive.

Three years into an economic recovery, this is the lasting scar of collapse: a federal program that began as a last resort for a few million hungry people has grown into an economic lifeline for entire towns. Spending on SNAP has doubled in the past four years and tripled in the past decade, surpassing $78 billion last year. A record 47 million Americans receive the benefit — including 13,752 in Woonsocket, one-third of the town’s population, where the first of each month now reveals twin shortcomings of the U.S. economy: So many people are forced to rely on government support. The government is forced to support so many people.

Read the full story here.

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