The Farm Bill under debate in the U.S. Senate this week doesn’t just impact farmers. Eighty percent of its funds go to the program that provides food stamps. The Senate proposal would reduce funds to the program over ten years.
This week the Federal Reserve reported families’ median net worth fell almost 40% between 2007 and 2010. The Fed reports the biggest contributor to the drop in family net worth was the housing collapse. It hit middle income families the hardest.