America's Foodstamps Program Gets A 6% Haircut: What Happens Next?

Today, America's Foodstamps Program Gets A 6% Haircut: What Happens Next?

Submitted by Tyler Durden on 11/01/2013 - 23:03

Today, one of America's best-known welfare programs with 47.6 million participants or 15% of the total population, the Supplemental Nutrition Assistance Program also known as "foodstamps" or EBT, is due for a substantial haircut: beginning Friday, there will be a phased in $5 billion reduction (6% of the program) for the 12 month period starting November 1st 2013. So what happens next?