When a political party is anathema to fact based information, the American people they serve suffer. Republicans punitively cut the SNAP program. To be sure some Democrats ultimately supported the bill that will cut $90/month to the poor as well.
This cut disproportionately affected veterans as their return to self-sufficiency into society has been difficult. After-all, by now all should know that in the trickledown theory of governance, the pain and necessities of the lowly peons that comprise most of America is only mitigated when that pain also affects the wealthy stockholding 1%.
The GOP was warned that SNAP was stimulative to the economy. They were warned that reducing SNAP in a stagnant economy would reduce economic activity.
This week realty is now apparent. Fox Business reports the following.
The world’s largest retailer cautioned that its profit will match or fall “slightly below” the low end of its previous guidance for $1.60 to $1.70 a share. Walmart gave the same prediction for full-year earnings, which were expected to hit $5.11 to $5.21 a share.
Bentonville, Ark.-based Walmart also said same-store sales at Walmart U.S. and Sam’s Club, excluding fuel, to be slightly negative compared to the company’s prior outlook. In November, Walmart projected comparable sales to be relatively flat at its namesake U.S. stores, while Sam’s Club expected results to be between flat and 2% growth.
Chief financial officer Charles Holley said Walmart saw a greater-than-expected negative impact from reductions in the Supplemental Nutrition Assistance Program, or food stamps. The cuts went into effect on Nov. 1.
The suffering poor have felt the pain. In fact most of the pain is in Red States as they are more dependent on government handouts. The stockholders of the stores that service the poor and working poor now feel a reduction in profits. Everyone knows that is a red light for them. Will the GOP respond to assist their masters?
(h/t DailyKOS)
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