(Huffington Post) One of the major beneficiaries of the nation’s food-stamp program is actually a hugely profitable company: Walmart.
Americans spend about 18 percent of all food stamp dollars at Walmart, according to company estimates told to the Wall Street Journal and confirmed by The Huffington Post. That’s about $14 billion of the $80 billion Congress set aside for food stamps last year. The company’s total profits for 2013 were $17 billion.
The news comes just as food-stamp benefits are about to be cut for 47 million Americans. On Friday, a key provision boosting the program is set to expire.