Student or Learner
What's the meaning of "yuppie food stamps“ underlined in the sentence below?
Thanks in advance.
By the beginning of the 21st century, Americans didn’t even have to seek credit — it sought them through endless offers that even included paying off old credit cards with new ones. Many consumers developed a sense of entitlement. One college professor reported that his students referred to credit cards as “yuppie food stamps.”
The term 'yuppy /yuppie' first came into general circulation in the 1980s.
It's an acronym from the phrase 'Young Upwardly-mobile Professional', used to describe an urban professional person with an affluent lifestyle.
In the context you describe the professor is conveying the idea that since credit card supply exceeded demand they were essentially cheap or even free, thus encouraging a feeling of entitlement. Hence they could be compared to food stamps issued under the US Supplemental Nutrition Assistance Program or SNAP (formerly known as food stamps) to help poorer people buy food.