Boost in Food-Stamp Funding Percolates Through Economy
JULY 7, 2009
By ROGER THUROW and TIMOTHY W. MARTIN
Wall Street Journal
The president's stimulus plan has been aimed primarily at the top of the economy, pumping money into banks and car companies and state and city governments. But it also has put more money into the hands of the poorest Americans by boosting monthly food-stamp allocations. Starting in April, a family of four on food stamps received an average of $80 extra.
Money from the program -- officially known as the Supplemental Nutrition Assistance Program -- percolates quickly through the economy. The U.S. Department of Agriculture calculates that for every $5 of food-stamp spending, there is $9.20 of total economic activity, as grocers and farmers pay their employees and suppliers, who in turn shop and pay their bills.
Farmers markets in Iowa have been particularly aggressive in courting the business of food-stamp recipients. At the Davenport market, food-stamp purchases have boosted business at Sawyer Beef. As farmer Norman Sawyer's sales increase, he says he plans to buy more fencing and water tanks to improve grazing areas for his cattle. "This has been a good deal for us," he says.
Tuesday, July 07, 2009
YES, THE STIMULUS IS PROVIDING JOBS
And even the Wall Street Journal admits it.
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