NYPOST: Biden’s food stamp expansion linked to 15% jump in grocery prices
A push by the Biden administration to increase food stamp benefits to the tune of $1 trillion could be responsible for a 15% rise in prices at the grocery store, according to a government watchdog report.
The Department of Agriculture rolled out revised nutritional standards for the Supplemental Nutrition Assistance Program (SNAP) in 2021 that expanded the program by 27% on average from pre-COVID pandemic levels, the Foundation for Government Accountability found.
Overall spending on the program more than doubled between 2019 and 2022, going from $4.5 billion in 2019 to $11 billion in 2022, a study released Thursday by the government accountability group shows.
The spending hit $8.6 billion in March 2023, despite some emergency allotments having expired, and is expected to rise by 5.8% over the course of the year.
The expansion is projected to cost US taxpayers more than $1 trillion over the next decade, according to the Congressional Budget Office.
h/t Simian_Stacker