The number of Americans receiving Supplemental Nutrition Assistance -better known as Food Stamps- plunged to the lowest level in eight years; signaling a recovering US economy under President Trump and the GOP-led Congress.
The new statistics released by the USDA show that approximately 40 million people were enrolled in the SNAP program as of March 2018; levels not seen since February 2010 when roughly 39.6 million Americans received assistance.
The data is yet another indicator of a healthy economy heading into the third quarter of 2018, with millions of Americans going back to work and earning higher wages following the GOP-led tax cuts.
Last week, the Commerce Department released a stunning report that showed an inverted job index for the first time in US history, with more positions available than American workers to fill them.
Read the report here.
NANCY'S NIGHTMARE: 2 Million Americans OFF FOOD STAMPS During Trump’s FIRST YEAR
The number of Americans receiving food assistance from the US government dropped by over two million people during President Trump’s first year in office; the direct result of a booming economy and low unemployment following the GOP-sponsored tax cuts.
According to the Daily Caller, roughly 42.2 million Americans were enrolled in the Supplemental Nutrition Assistance (SNAP) program throughout 2017; an eleven percent drop from 2013 following President Obama’s second inauguration.
“Federal spending for SNAP totaled $68.0 billion or 4 percent less than in the previous fiscal year” writes the Caller. “This was also 15 percent less than the historical high of $79.9 billion set in FY 2013.”
The positive economic data echoes similar statistics published earlier this week, with consumer confidence soaring to its highest levels in over a decade.
According to the Wall Street Journal, the consumer-sentiment index reached 102 in March; the highest level seen since 2004. Data also shows the index inching up in February as well, reaching an already-healthy score of 99.7.
“Consumers continued to adjust their expectations in reaction to new economic policies,” said Richard Curtin, the study’s senior economist.
NANCY'S NIGHTMARE: Home Depot to PAY BIG BONUSES After GOP Tax Cuts
Nancy Pelosi and Chuck Schumer’s doom-and-gloom predictions following the GOP tax cuts continued to crash and burn this week, with home-improvement giant Home Depot announcing their plans to pay out big bucks to their hourly employees.
The construction and hardware chain unveiled the new plan Thursday, pledging to dish-out $1,000 bonuses to US-based workers in the wake of the recently passed Republican tax legislation.
According to CNBC, the company structured its new payment scheme on fellow superstore Walmart; determining the size of the bonus by the employee’s “length of service.”
Based on the new plan, all of Home Depot’s American workers will receive $200, going up to $1,000 for individuals who’ve been with the company for two decades.
“This incremental investment in our associates was made possible by the new tax reform bill,” Chief Executive Officer Craig Menear said in a statement. “We are pleased to be able to provide this additional reward to our associates.”
Home Depot becomes the latest American corporation -joining Walmart, Visa, American Airlines, AT&T, Apple, and others- to raise wages, expand benefits, and pay-out big bonuses following the GOP-led tax cuts.