Episode Transcript
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SPEAKER_00 (00:00):
Welcome to Great Day
Colorado The Daily Brief.
I'm DJ Mikey D, and today we'rediving into a story that's going
to affect millions of Americanfamilies in the coming days.
We're talking about thesignificant cuts to SNAP
benefits, what many of us knowas food stamps that are set to
hit on november first of thisyear.
Now, if you're thinking, Mikey,I don't get food stamps, this
(00:22):
doesn't affect me, stick withme.
Because by the end of thisepisode, you'll understand why
these cuts will ripple throughour entire economy and touch
every single one of us in someway.
So what's happening exactly?
Temporary allotments that wereput in place during the pandemic
are expiring and there arefederal policy changes coming
down the pipeline.
(00:43):
The result?
Lower monthly benefits formillions of families, and some
households will lose eligibilityentirely.
Let's talk about who's mostimmediately affected here.
We're looking at low incomefamilies with children, seniors
living on fixed incomes, peoplewith disabilities, and
caregivers.
These are the folks who are justbarely staying above the poverty
(01:05):
line with these extra benefits,and now they're facing the very
real possibility of deeper foodinsecurity.
The immediate effects are prettystraightforward but devastating.
Households will have less moneyfor groceries.
That means reduced meal quality,skipped meals, or a shift toward
cheaper, less nutritious food.
(01:26):
And here's the health impact.
This can worsen the managementof chronic conditions like
diabetes and hypertension.
Families might start usingcredit more, falling behind on
bills, or even facing housinginstability as their food
budgets compete with rent andutilities.
But here's where it gets reallyinteresting and where this
starts to affect all of us,whether we receive SNAP benefits
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or not.
This creates a ripple effectthat touches everyone in our
communities.
Local food banks and pantries,they're about to see demand
skyrocket, which will straintheir resources and volunteers
to the breaking point.
Schools will likely seeincreased need for free meal
programs.
Small grocery stores in lowincome neighborhoods, they're
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going to lose significant sales,which affects local economies
and could mean job losses.
And employers, they mightexperience increased absenteeism
from workers who are dealingwith food stress.
When you're worried aboutputting food on the table, it's
pretty hard to focus on yourjob.
Now let's zoom out to the biggereconomic picture because this is
where it gets really concerning.
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Cuts to SNAP reduce consumerspending dramatically.
And here's a number that mightsurprise you.
Every dollar of SNAP benefitsgenerates roughly$1.50 to$1.80
in economic activity becausethose benefits are spent
locally, immediately, andentirely within our communities.
When these benefits are cut,we're looking at about nine
(02:50):
billion dollars in groceryspending that just vanishes from
our economy.
That's nine billion dollars thatwon't be flowing through grocery
stores, won't be paying theiremployees wages, won't be
supporting the trucking industrythat delivers food, won't be
helping farmers who grow it.
There are also long term costswe need to consider.
(03:10):
Childhood food insecurityaffects educational outcomes and
lifetime earnings.
Kids who are hungry can't learnas effectively, and that has
consequences that stretch fordecades.
Now, back to that point I madeat the beginning.
Why this affects you even ifyou've never received food
stamps?
About one in eight Americansreceive SNAP benefits.
(03:31):
In some states that's eighthundred thousand people.
Think about that number.
About one in four children inthe US receive these benefits.
When that many people suddenlyhave less money to spend on
groceries, it affects supply anddemand dynamics across the
entire food system.
Here's the economic reality.
Every dollar cut from SNAP takesaway a dollar fifty cents from
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the local economy.
The consequence?
Grocery prices, which arealready up over three percent
since President Trump tookoffice in January, are likely to
increase further.
Even a one month pause inbenefits would cost the economy
roughly thirteen dollars tofourteen billion dollars and
could cause grocery prices to goup at least one percent.
(04:13):
States would also lose hundredsof millions in sales tax
revenue.
So when you're standing in thegrocery aisle wondering why your
bill keeps going up, rememberthat these policy decisions are
part of that equation.
This isn't just about helpingour neighbors, though that's
important.
It's about understanding howinterconnected our economic well
being truly is.
(04:34):
The community response here iscritical.
Check on your neighbors,especially seniors and families
with young children.
Support local food assistancegroups, they're going to need
volunteers and donations morethan ever.
And reach out to yourpolicymakers to let them know
how these cuts will affect yourcommunity.
Small actions can help reducethe hardship as families and
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communities adjust to this newreality.
We're all in this together,whether we realize it or not.
The food security of ourneighbors is ultimately our
collective economic security.
That's all the time we have fortoday on Great Day Colorado, the
Daily Brief.
Thanks for listening.
And remember, stay informed,stay engaged, and take care of
each other out there.
Peace out.
(05:17):
Hey everyone, welcome back toGreat Day Colorado's Mile High
Matters Report.
I'm DJ Mikey D, and today we'regoing to unpack what's really
happening with our city'seconomy.
If you live in Denver, you'reprobably feeling it.
Longer commutes, pricier rent,and community services that seem
stretched thinner every day.
The picture we're seeing todayisn't from one single cause,
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it's this complex mix ofnational policy, funding
changes, and long termstructural pressures that are
hitting us right here at home.
Let's start with something thatmight seem distant but hits
close to home, tariffs and tradepolicy.
Now, tariffs are those importduties levied by the federal
government, and they can affectlocal economies even miles
(06:00):
inland like ours.
Denver's economy includesmanufacturing, aerospace
suppliers, logistics, and ourgrowing tech sector, all of
which rely on global supplychains.
When tariffs raise costs forimported materials and
components, our localmanufacturers and suppliers face
higher production costs.
Some pass those costs along tobuyers, meaning we pay more,
(06:23):
while others scale backoperations.
When business activity slows,that reduces local tax revenue.
And on top of that, tradeuncertainty can make companies
hesitant to invest here.
Less investment means fewer newjobs and slower growth in
property and sales taxes, bothcrucial revenue streams for our
city government.
Now, while tariffs areimplemented at the federal
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level, their economic effectscascade right down to our local
budgets.
It's like throwing a rock in apond.
The ripples reach everywhere.
Then there's the federal fundingpiece.
We've seen instances wherefederal policy changes reduce or
delay grants and program fundingto cities and states.
That forces municipalities likeDenver to either cut services or
(07:08):
reallocate scarce local funds.
Our budget was already strainedafter those pandemic era revenue
swings.
Reductions in federal transfersjust make local shortfalls
worse.
Federal support matterstremendously for Denver.
For transit, affordable housing,public health, workforce
programs, and homelessnessservices.
(07:29):
Over the last several budgetcycles, municipal budgets
nationwide have been squeezed assome federal funding streams
were cut or made temporary.
When grants expire or shrink,cities face impossible choices,
use general funds, raise localrevenue, or cut services.
Here in Denver, officials havepointed to tightening budgets
(07:51):
affecting transit expansions,mental health outreach, and
affordable housing programs.
And here's the kicker when localgovernments cut spending on
preventative services, likeoutreach teams that connect
people experiencing homelessnesswith housing and care, costs
often rise elsewhere.
Emergency rooms, jails, andshelters see bigger burdens, and
(08:12):
community tensionsunderstandably mount.
Now let's talk about the big onehousing.
This is what everyone noticesimmediately.
Denver's population growth overthe past decade significantly
outpaced the supply of newhousing.
Strong in migration, high wagesin some sectors, and limited
buildable land have driven uphome prices and rents to levels
(08:35):
that are well, frankly,shocking.
Then came inflation, and thosehigher interest rates intended
to cool national inflation.
Higher mortgage rates makebuying a home more expensive for
would-be buyers.
They also slow new constructionbecause financing costs for
developers increase, making someprojects unfeasible.
(08:55):
What that means for renters issimple math, less new housing
coming online plus persistentdemand equals higher rents and
lower vacancy rates.
For would-be buyers, monthlypayments rise even if home
prices stabilize, pricing manyhouseholds out of ownership and
keeping them in the rentalmarket, where they're competing
for the same scarce units.
(09:16):
It's a vicious cycle.
Now, it's important to note thatthe economic strain isn't
uniform across our community.
Low income renters, servicesector workers, recent migrants,
and people with gaps in accessto healthcare or mental health
care are hit hardest.
Small businesses inneighborhoods that serve lower
income residents can losecustomers as people struggle to
(09:38):
make ends meet.
Meanwhile, some sectors, liketech or professional services,
can retain high wages, whichincreases local income
inequality and intensifiescompetition for housing.
It's creating two differentDenvers, and that should concern
all of us.
So where do we go from here?
City and county leaders in theDenver Metro have pursued
(09:59):
several approaches, investing inaffordable housing development
using local dollars to make upfor shortfalls in federal
grants, partnering withnonprofits for supportive
housing and expanding sheltercapacity.
There have also been policytweaks aimed at increasing
density near transit,streamlining approvals for new
housing, and pilot programs forstreet outreach and treatment.
(10:22):
These measures help, but expertssay they need scale and time.
Building housing, especiallysubsidized or deeply affordable
units takes years, and fillinggaps in behavioral health and
addiction services requiresstaffing, infrastructure, and
recurring dollars.
To wrap up, Denver's economicchallenges are the product of
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national policy shocks, localbudget pressures and
longstanding housing supplyshortfalls.
Tariffs and shifting federalfunding reduce economic
certainty and at times localrevenue.
That forces hard choices thatcan weaken the safety net just
when more people need it.
The result?
Higher housing costs, morepeople unhoused, and a strained
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civic fabric.
Solutions exist, more affordablehousing, sustained supportive
services, and smarter budgetchoices, but they need both
money and political will.
Thanks for joining me on thisGreat Day Colorado's Mile High
Matters report.
I'm DJ Mikey D and I'll catchyou next time.