Former House Speaker Newt Gingrich suggested this week that record levels of Americans on food stamps show that Democrats are party of food stamps and Republicans are the party of paychecks. Nancy Pelosi shot back by saying that until the job market picks up, food stamps and unemployment insurance provide the “biggest bang for the buck”. So who is right and what does this debate tell us about the very different economic philosophies of the parties? What does the rhetoric suggest both parties fail to comprehend? We ask Bill Beach of the Heritage Foundation. He also explains why he considers a possible Federal Reserve plan to intentionally allow inflation to rise the most “hare-brained” idea to come from the Fed in the past 20 years.
