Retail to lose $70 billion over 10 years if food stamp benefits are cut; here's who gets hit the most

[rangerrebew]

Retail to lose $70 billion over 10 years if food stamp benefits are cut; here's who gets hit the most
 
Courtney Reagan
CNBCJuly 7, 2017

2017 has not been kind to retailers, and if one of the Trump administration's budget cuts takes hold, there will be more pain to come.

The current Trump administration budget calls for a $191 billion cut to the Supplemental Nutrition Assistance Program — commonly referred to as food stamps — between 2018 and 2028.

The Congressional Budget Office said the average food stamp benefit is $252 per month, the lowest level in five years as several rounds of cuts began in 2013. If the Trump administration's SNAP budget proposal passes, the monthly amount will fall by 31 percent to an average $173 a month.

https://finance.yahoo.com/news/retail-lose-70-billion-over-191409015.html

[driftdiver]

Man those people have no shame

[Mom MD]

I would think that cuts would not translate 1:1 to supermarket spending reduction.  I would guess people would cut their spending elsewhere and continue to buy food, or they would buy less expensive food, but not cut out food purchased altogether.

[IsailedawayfromFR]

The Supplemental Nutrition Assistance Program?

Here's some of what we taxpayers pay for disguised as Nutrition:

Sweetened Beverages 9.25%  This is called 'Sodas'
Prepared Desserts       6.90%  This is called 'Ice Cream'
Candy                         2.10%  This is self-explanatory

All this is nutritional stuff?  https://www.fns.usda.gov/sites/default/files/ops/SNAPFoodsTypicallyPurchased.pdf

[Joe Wooten]

I call bullshit on this. First of all, it came from those lefties at Yahoo, which automatically makes it suspect, second, Alix Partners is the source, and they are another bunch of statist stooges. This is on par with Pelosi's statement a few years back that government assistance programs to the "poor" generated almost $2 in economic growth for every dollar spent.

[GrouchoTex]

Ridiculous.

[Night Hides Not]

Ridiculous.

No kidding...works out to seven billion dollars a year, or about 5 days of Walmart revenues.

[Wingnut]

I call bullshit on this. First of all, it came from those lefties at Yahoo, which automatically makes it suspect, second, Alix Partners is the source, and they are another bunch of statist stooges. This is on par with Pelosi's statement a few years back that government assistance programs to the "poor" generated almost $2 in economic growth for every dollar spent.

They are as bad as VOX.