Summary
In November, a delay in Supplemental Nutrition Assistance Program (SNAP) benefits due to a government shutdown may lead over 40 million Americans to use credit cards to buy food, potentially increasing credit card debt. A federal judge temporarily blocked the cut-off of SNAP benefits, but the available funds aren't enough to cover the full amount needed for the month.
Key Facts
- Over 40 million Americans rely on SNAP benefits to buy food each month.
- The government shutdown has currently halted November SNAP payments.
- Many people may turn to credit cards to pay for food, raising the risk of increased debt.
- Credit cards have high interest rates, commonly over 20%, which can cause long-term financial issues.
- Some states have plans for emergency food assistance, but these may not fully meet the need.
- A federal judge stopped the immediate cut-off of SNAP benefits, requiring an emergency fund to be used.
- The government needs more than $9 billion to cover SNAP for November, but currently has only $5.25 billion.
- The delay in SNAP benefits forces many to make tough financial choices, like skipping meals or incurring debt.
