Nope, contrary to popular rumor, recipients aren't buying lobster and high-grade beef cuts with food stamps. According to a USDA study, they spend a lot of the money on this:
SNAP households spent 9.3 percent of their grocery budgets on soft drinks alone. That's considerably more than the amount spent on the stuff by people who actually have to pay for their own foods and drinks. Actually, nearly 1/3 more.
Maybe Bloomberg's cap on sodas wasn't so far-fetched after all. Food stamps seem to amount to a multi-billion-dollar subsidy for the soft drink industry.