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Advisor

SNAP, don't forget the banks

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http://prospect.org/article/how-big-banks-are-cashing-food-stamps

 

As I've always said, the furor over SNAP was always a pro-rasslin' sideshow for political distraction. Truth was that Coke, PepsiFrito, Walmart etc. weren't going to lose that subsidy.

 

As above, don't forget the banks.

 

So like the government created crop insurance industry which will gobble up over 50% of the cost of the programs, the Good Government lesson for today is, don't let the hogs get their forelegs in the trough because if you do there is nobody tough enough to go in and start whacking snouts with a board.

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Re: SNAP, don't forget the banks

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What is amazing to me is the CBO scored this farm program as saving $14.3 billion over the next 10 years, and increase crop insurance increase spending by $5.7 billion over the same 10 year period.

 

I really am amazed, as preliminary estimates show in my area an increase from the direct payment of $14/a to a government crop insurance subsidy of $44/a..That acc'd to my farmer math is a bit more than a 300% increase in cost to uncle sam just this year. Where is the savings? Oh, I get it, they cut out the direct payments, so saved there. But spending ooodles more on the new gov crop ins side of the equation. I wonder if anyone at the CBO scored the costs this new government crop ins program will have?

 

Also,  explain to me the 10 year budget scoring for the farm bill...I understood it was only for a 5 year period.

 

 

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Re: SNAP, don't forget the banks

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Yes, we`re all chained together  http://money.cnn.com/2014/01/31/news/companies/walmart-food-stamps/    WallyWorld needs food stamp money and those with Walmart stock in their 401k need Walmart to do well. 

 

The Newsweek cover back in 2009 says it all   http://www.newsweek.com/we-are-all-socialists-now-82577 

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Senior Contributor

Re: SNAP, don't forget the banks

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What is amazing to me is the CBO scored this farm program as saving $14.3 billion over the next 10 years, and increase crop insurance increase spending by $5.7 billion over the same 10 year period.

 

I really am amazed, as preliminary estimates show in my area an increase from the direct payment of $14/a to a government crop insurance subsidy of $44/a..That acc'd to my farmer math is a bit more than a 300% increase in cost to uncle sam just this year. Where is the savings? Oh, I get it, they cut out the direct payments, so saved there. But spending ooodles more on the new gov crop ins side of the equation. I wonder if anyone at the CBO scored the costs this new government crop ins program will have?

 

Also,  explain to me the 10 year budget scoring for the farm bill...I understood it was only for a 5 year period.

 

 

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Re: SNAP, don't forget the banks

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In all fairness some of the same criticisms could be leveled against Obamacare and the private insurance industry. There are some differences, too.

 

But being a proponent of a public option that doesn't cause me any internal contradiction.

 

Being foremost cheap and practical my rallying cry is "Medicaid for all, Cadillac Medicine for all who want to buy it."

 

 

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