On Tuesday, Hoyer responded to a question about extending the Bush-era tax cuts for incomes above $250,000 by stating: "If you talk to economists, they will tell you there are two things that are the most stimulative that you can do -- one's unemployment insurance, the other's food stamps, okay?"
After first comparing the stimulative value of food stamps to images of Sports Illustrated swimsuit model Upton in a bikini on Your World, Cavuto disparaged the effect that food stamps and unemployment benefits have on the economy, leaving out the fact that Hoyer was contrasting the stimulative value of these benefits to the effect of extending the Bush tax cuts.
But economists agree that food stamps and unemployment benefits are more stimulative in a struggling economy than extending the Bush tax cuts.
Moody's Economy chief economist Mark Zandi said in November 2008 congressional testimony that to get "the largest bang for the buck," "[t]he most efficacious spending includes extending unemployment insurance benefits [and] expanding the food stamp program." Zandi also said that extra food stamps and unemployment benefits "are the most efficient ways to prime the economy's pump." Based on Zandi's testimony, the Economic Policy Institute created the following chart showing that food stamps have nearly six times the bang for the buck as extending the Bush tax cuts do:
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