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Food stamps get a 25% raise under a new bit of USDA largess just approved by the Biden administration.
You and I both realize that all spending must originate with Congress, but the federal government has been functioning on a “Whatevs” basis for decades.
Food prices shot up nearly five percent from just April to May of this year, hurting literally everyone who isn’t actually rich.
Except for people on welfare, that is.
In a move that ABC News calls “the largest single increase in the program’s history,” the average SNAP benefit will increase by 25% starting in October.
The massive — and permanent — the increase will be available to all 42 million people who receive food stamps.
That’s one in eight Americans who won’t have to worry about their food budgets, largely at the expense of those who do have to worry.
But setting aside the unfairness of it all for just a moment, the increase is likely to be a wash, at best.
Shoving yet more billions of dollars into consumers’ hands while inflation is growing and before we have all of our COVID-related logistical snafus worked out will likely just fan inflation’s flames even higher.
I’ll lay down this marker: A 25% SNAP bump is just the beginning. As inflation grows, so too will demand for increased payouts for disability, Social Security, and more assistance for anyone on a fixed income.
Congress and/or Presidentish Joe Biden will be happy to comply, too. More billions — trillions, more likely — will fly out of the Treasury like so much kindling on a growing fire.
We’re at the start of an inflationary positive-feedback loop, where every likely Democratic response will cause greater inflation, leading to more of the things Democrats like to do that cause greater inflation.
What we need is some massive deregulation, getting the government’s jackboot off food producers’ necks during a time of crisis. What we need is an end to the profligacy that has pumped trillions of make-believe dollars into an economy only partly off its knees. What we need is a slight increase in interest rates to absorb some of that excess capital Washington has been swimming in like a drunk in a giant punchbowl.
What we’ll get is continued re-regulation, as much money-printing by the Fed as the Treasury wants, and zero interest rates as far as these green eyeshades can see.