Archive

Food Stamp Cuts Starve Walmart

CORPORATE WELFARE

Hurt its profits.

Turns out food stamp cuts weren’t just welfare for poor, starving people. On Friday, Walmart said that cuts going into effect on November 1 in food stamps hurt its bottom line in the fourth quarter of 2013. The expiration of food stamps increased during the recession saved the government $5 billion, but cut down on the amount families were able to spend at big retailers like Walmart. There may be more challenges ahead for the company, as a new farm bill deal reached this week will seek to cut $8 billion more.

Read it at CNN Money