SNAPping the economy
The Democrats are now telling us that we need SNAP, not because it helps the poor, but because every dollar of SNAP benefits results in 1.8 dollars in “economic activity”. This is, of course, a completely fabricated number. It is based on such obscure economic ideas such as velocity of money, but that is a very general theory and can’t be accurately applied to any one program. If this was true, then we could fix the whole economy by giving SNAP benefits to everyone in the country, but it is not true, so let’s not do that. Even if it were true, it is not good news. Because ...