Posts by Rebecca Stropoli

  • Food Stamp Issue Derails Farm Bill as Recipients at Record High

    Siemond Chan at The Exchange1 yr ago

    Last week's dramatic defeat of the farm bill in the House put a fresh emphasis on the issue of food stamps in the U.S., just as the number of recipients for the program sits at a record high.

    The 195-234 vote against the $500 billion farm policy bill, a version of which the Senate passed earlier this month, came amid congressional disagreements regarding cuts to the Supplemental Nutrition Assistance Program, or SNAP. Keen focus was placed on an amendment put forth by Republican Rep. Steve Southerland, which required beneficiaries to sign up for employment-training programs in order to continue receiving food stamps. Many Democrats, who may have been willing to OK the $20 billion in food-stamp cuts the House version included, balked at the amendment, and only 24 ultimately voted for passage of the bill. Another dysfunctional-family blame game between the GOP and Democrats ensued as the defeat provided a serious blow to House Speaker John Boehner.

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  • Finance Week Ahead: Focus on the Fed

    Rebecca Stropoli at The Exchange1 yr ago

    Another volatile trading week has come to an end, with the major U.S. indices in the red overall and the Dow on Friday seeing its fourth straight day of triple-digit swings. Central bank concerns, from lack of further Bank of Japan action to continued worries over the timing of Fed tightening, led the way; Japan's Nikkei also saw some serious action, plunging to officially enter bear market territory on Thursday before recovering a bit on Friday, while the yen soared against the dollar.

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