- Time To Celebrate The Recovery: Food Stamp Usage Hits Fresh Record (ZeroHedge, May 31, 2011):
That average monthly benefit of $133.24 for 44.199 million people will help with the purchase of one third of a very edible iPad. Food stamp participation chart presented without further commentary.
Tags: Economy, Food stamps, Global News, U.S.
See also:
- Warren Buffett’s $600 Million INTEREST-FREE Loan From US Taxpayers Or How The Wealthiest Americans Enrich Themselves At Taxpayers Expense (Yahoo Finance)
May 03 — Today SNAP released the most recent food stamp numbers. Not surprisingly, we just saw another all time high 44.2 million poverty-level Americans relying on government funding for day to day sustenance. Granted the number appears to be plateauing, so all those who bought the change if not the ho[y]pe, can rejoice as it may start declining next month: a development that is sure to be herald for Obama a 4th Putin-esque term. That said, another number that has to be kept in perspective and for which we have to thank none other than Pauly-K is that offsetting these 44.2 million of impoverished Americans who can get a tax refund for writing off the American dream, are 400 Americans who accounted for 10%, or $91 billion of total, in capital gains taxes, or said otherwise, 400 US taxpayers account for 10% of all capital gains in 2007! We are currently going through old issues of Pravda to see if the Communist empire ever achieved this kind of social disparity between the nomenklatura and the proletariat (it didn’t). If we find confirmation we will post it, and lose a sizable bet which will certainly deny us any possibility of every being among the above mentioned 400.
First, the latest SNAP:
And second, at a factor of 110,500 to 1, here are the 400 people who not only account for 10% of all US capital gains taxes (Taleb was right), but end up paying a whopping (sarcasm inluded) 17% in taxes on it. Continue reading »
Tags: Economy, Food stamps, Global News, Government, Obama administration, Politics, Society, U.S.
Update: Believe it or not, there are already a whole host of sanctions against strikers in the current Food Stamp program — the section quoted is actually part of a 1981 Reagan era law. Rep. Joe Baca (D-CA) has introduced a bill to do away with these restrictions. A 1988 Supreme Court case reversed lower court decisions that ruled these sanctions unconstitutional.
All around the country, right-wing legislators are asking middle class Americans to pay for budget deficits caused mainly by a recession caused by Wall Street; they are attacking workers’ collective bargaining rights, which has provoked a huge Main Street Movement to fight back.
Now, a group of House Republicans is launching a new stealth attack against union workers. GOP Reps. Jim Jordan (OH), Tim Scott (SC), Scott Garrett (NJ), Dan Burton (IN), and Louie Gohmert (TX) have introduced H.R. 1135, which states that it is designed to “provide information on total spending on means-tested welfare programs, to provide additional work requirements, and to provide an overall spending limit on means-tested welfare programs.”
Much of the bill is based upon verifying that those who receive food stamps benefits are meeting the federal requirements for doing so. However, one section buried deep within the bill adds a startling new requirement. The bill, if passed, would actually cut off all food stamp benefits to any family where one adult member is engaging in a strike against an employer:
The bill also includes a provision that would exempt households from losing eligibility, “if the household was eligible immediately prior to such strike, however, such family unit shall not receive an increased allotment as the result of a decrease in the income of the striking member or members of the household.”
Tags: Constitution, Food stamps, Global News, Government, Law, New World Order, Politics, Supreme Court, U.S.
Bernanke’s plan to recreate Libya in our own back yard is continuing to work magnificently. It is no surprise that on Charles Ponzi day, the update to food stamp usage indicates that in December those receiving an average of $134 per month has just hit 44.1 million people.
These lucky people will soon be able to buy an inflation adjusted 2.3 crumbs of notional bread with this generous handout from the Chairsatan.
In other words, America is now the land of the free, home of the brave, of whom 14.3% can’t afford to eat, even with all the new jobs created by both the old QE1, Lite and 2, and soon to be 3.
Don’t forget that according to the Bernank, QE2 has already created 250,000 new jobs… all at the a modest cost of $1.3 million per job.
Submitted by Tyler Durden on 03/03/2011 12:00 -0500
Source: ZeroHedge
Tags: Ben Bernanke, Economy, Fed, Federal Reserve, Food stamps, Global News, Government, Politics, Quantitative Easing, Society, U.S., Unemployment
Added: 18. February 2011
While most Americans are struggling hard to overcome the hardships of the recession, the profits of national banks continue to rise.
Tags: Banking, Economy, Food stamps, Global News, Government, JPMorgan, Politics, Society, U.S.
Related articles:
- How JP Morgan Gets Rich On Food Stamps And Profits From Poverty
Bankster bailouts …
- Bank Bailouts Explained (Must-see!)
… plus quantitative easing …
- Quantitative Easing Explained (Must-see!)
… plus unprecedented deficit spending (Obamanomics) …
- Government Economists: America Faces The Biggest Budget Deficit In History
… equals …
“When a country embarks on deficit financing and inflationism (quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.”
- Ron Paul
The US government and Fed are bankrupting America, destroying the dollar, the middle class and completely wiping out the poor (exactly as planned by their elite masters.)
Much has been said about Bernanke’s wealth effect and how it impacts a whopping 1% of the US population (traditionally, those very same bail out recipients who would be insolvent had Gen Ben not rescued the entire financial system at the expense of the DXY, which at last check was below 77 again).
Unfortunately, a little less time has been spent discussing the equal and opposite effect: that of the poverty effect. Luckily, every month we get an update on this just as useful metric.
And as of November, the SNAP program had 43.6 million participants, an increase of 400k from October, and a 14% increase, or 5.3 million from a year prior.
We are confident that this 15% of the US population will be delighted to know that their rapidly diminishing dollars will end up acquiring increasingly less and less stuff.
The chart below says it all.
(Click on image to enlarge.)
Submitted by Tyler Durden on 02/01/2011 14:21 -0500
Source: ZeroHedge
Tags: Barack Obama, Ben Bernanke, Economy, Fed, Federal Reserve, Food stamps, Global News, Government, Obama administration, Politics, Poverty, U.S.
Added: 9. January 2010
Don’t miss:
- JP Morgan Banksters Get $10 BILLION Pay And Bonus Pot
- Change: Obama Appoints JPMorgan Bankster and Clinton Veteran As New Chief of Staff
- US: Food Stamps Used by Record 43.2 Million in October, Up 15 Percent From A Year Ago
- JP Morgan Chase Ransacked Home of Man on His Death Bed
- JPMorgan Silver Manipulation Explained (Must-See!)
Tags: Banking, Barack Obama, Economy, Food stamps, Global News, Government, JPMorgan, Max Keiser, Obama administration, Politics, Poverty, Society, U.S.
It’s the Greatest Depression.
Get ready for the greatest financial-economic collapse in history.
There is still some time left.
The recovery is gaining speed now …
Jan. 07 (Bloomberg) — The number of Americans receiving food stamps rose to a record 43.2 million in October as the jobless rate stayed near a 27-year high, the government said.
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 15 percent from a year earlier and increased 0.7 percent from September, the U.S. Department of Agriculture said today in a statement on its website. Participation has set records for 23 straight months.
An average of 43.3 million people, more than an eighth of the population, will get food stamps each month in the year that began Oct. 1, according to White House estimates.
Tags: Economy, Food stamps, Global News, U.S.
More people tapped food stamps to pay for groceries in September as the recession and lackluster recovery have prompted more Americans to turn to government safety net programs to make ends meet.
Some 42.9 million people collected food stamps last month, up 1.2% from the prior month and 16.2% higher than the same time a year ago, according to the U.S. Department of Agriculture.
Nationwide 14% of the population relied on food stamps as of September but in some states the percentage was much higher. In Washington, D.C., Mississippi and Tennessee – the states with the largest share of citizens receiving benefits – more than a fifth of the population in each was collecting food stamps.
Food Stamp Use, by State
| State | Number of people on food stamps Sept. 2010 | Year-over-year change | Month-over-month change | Percent of population on food stamps |
| U.S. total | 42,911,042 | 16.2% | 1.2% | 14% |
| Alabama | 849,785 | 12.8% | 1.2% | 18% |
| Alaska | 81,196 | 15.4% | -0.1% | 11.6% |
| Arizona | 1,044,410 | 10.9% | -0.3% | 15.8% |
| Arkansas | 483,309 | 8.4% | 0.7% | 16.7% |
| California | 3,466,974 | 17.7% | 1.2% | 9.4% |
| Colorado | 424,878 | 16.8% | 0.1% | 8.5% |
| Connecticut | 364,341 | 22.8% | 1.4% | 10.4% |
| Delaware | 124,755 | 21.9% | 2.6% | 14.1% |
| District of Columbia | 128,759 | 16.4% | 1.7% | 21.5% |
| Florida | 2,881,019 | 25.8% | 2.5% | 15.5% |
| Georgia | 1,693,976 | 16.4% | 0.7% | 17.2% |
| Hawaii | 147,250 | 15.7% | 1.2% | 11.4% |
| Idaho | 214,378 | 39.1% | 1.2% | 13.9% |
| Illinois | 1,839,051 | 18.6% | 8.5% | 14.2% |
| Indiana | 857,992 | 13.3% | 0.6% | 13.4% |
| Iowa | 352,164 | 10.9% | 0% | 11.7% |
| Kansas | 291,126 | 18% | 0.6% | 10.3% |
| Kentucky | 804,538 | 8.7% | -0.1% | 18.6% |
| Louisiana | 864,112 | 10.3% | 0.9% | 19.2% |
| Maine | 237,530 | 9.6% | 0.1% | 18% |
| Maryland | 616,102 | 20.4% | 1.5% | 10.8% |
| Massachusetts | 785,435 | 12.2% | 1% | 11.9% |
| Michigan | 1,884,751 | 15.2% | 0.4% | 18.9% |
| Minnesota | 455,852 | 17.2% | 0.7% | 8.7% |
| Mississippi | 601,432 | 8.7% | 1.1% | 20.4% |
| Missouri | 928,183 | 7.9% | 0.1% | 15.5% |
| Montana | 119,039 | 15.8% | 0.1% | 12.2% |
| Nebraska | 169,385 | 14.5%td> | 0% | 9.4% |
| Nevada | 314,253 | 28.7% | 1.5% | 11.9% |
| New Hampshire | 110,576 | 20.4% | 0.6% | 8.3% |
| New Jersey | 690,075 | 27.2% | 1.9% | 7.9% |
| New Mexico | 390,154 | 20.1% | 0.6% | 19.4% |
| New York | 2,895,995 | 13.3% | 0.8% | 14.8% |
| North Carolina | 1,476,207 | 18.2% | 2.3% | 15.7% |
| North Dakota | 61,229 | 7.1% | 0.3% | 9.5% |
| Ohio | 1,683,877 | 11.9% | 0.8% | 14.6% |
| Oklahoma | 613,531 | 14% | 0.9% | 16.6% |
| Oregon | 738,702 | 13.2% | 0.7% | 19.3% |
| Pennsylvania | 1,644,259 | 13.2% | 0.3% | 13% |
| Rhode Island | 150,450 | 26% | 1.3% | 14.3% |
| South Carolina | 832,651 | 11.3% | 0.3% | 18.3% |
| South Dakota | 99,504 | 14.9% | 0% | 12.2% |
| Tennessee | 1,267,478 | 8% | 0.5% | 20.1% |
| Texas | 3,837,839 | 24.6% | 0.9% | 15.5% |
| Utah | 269,819 | 25.9% | 3.8% | 9.7% |
| Vermont | 87,838 | 7.7% | 1% | 14.1% |
| Virginia | 826,277 | 13.8% | 0.7% | 10.5% |
| Washington | 1,006,518 | 16.4% | 0.8% | 15.1% |
| West Virginia | 343,764 | 5.1% | -0.6% | 18.9% |
| Wisconsin | 762,287 | 21.3% | 0.6% | 13.5% |
| Wyoming | 35,615 | 17.2% | 0.2% | 6.5% |
Sources: USDA, WSJ Research
By Sara Murray
December 8, 2010, 6:00 AM ET
Source: The Wall Street Journal
Tags: Economy, Food stamps, Global News, U.S.
The more research that you do into our economic situation the more depressing it becomes. We are in big, big, big trouble. The following are 14 pieces of bad economic news that are so horrifying you might not want to read them standing up….
#1 More than 42 million Americans were on food stamps during the month of August. That is a new all-time record, and that number is 17 percent higher than it was one year earlier. In fact, the number of Americans on food stamps is up more than 58 percent since August 2007.
#2 The number of “persons not in the labor force” in the United States has set another new all-time record. The United States has not had such an extended bout of mass unemployment since the Great Depression. The “official” unemployment rate in the United States has been at nine and a half percent or above for 14 consecutive months.
#3 More than 1000 people now live in the 200 miles of flood tunnels that exist under the city of Las Vegas. Once one of the most prosperous cities in the United States, Las Vegas is now little more than a shiny, glittering corpse that it rapidly decaying.
#4 Poverty is absolutely exploding and it is hitting those who are the most vulnerable the hardest. According to one recent study, approximately 21 percent of all children in the United States are living below the poverty line in 2010.
#5 In the past 60 days alone, the price of cotton is up 54%, the price of corn is up 29%, the price of soybeans is up 22%, the price of orange juice is up 17%, and the price of sugar is up 51%.
#6 One out of every six Americans is now enrolled in at least one anti-poverty program run by the federal government.
#7 The American Bankruptcy Institute says that there will be about 1.6 million consumer bankruptcies in 2010. That would represent a huge increase over 2009.
#8 According to one recent survey, 28% of all U.S. households have at least one member that is looking for a full-time job.
#9 The individual U.S. states are mostly flat broke. For example, it is being reported that the 15 largest U.S. states spent on average over 220% of their tax receipts over the past decade. Clearly this is not even close to sustainable.
#10 The U.S. government is completely and totally broke. After analyzing Congressional Budget Office data, Boston University economics professor Laurence J. Kotlikoff concluded that the U.S. government is facing a “fiscal gap” of $202 trillion dollars.
#11 In an attempt to keep our financial system solvent, the U.S. Federal Reserve has announced plans to create $600 billion out of thin air and pump it into the U.S. economy. The Fed is calling this “quantitative easing“, but what they should really be calling it is “cheating, debasing and inflating”.
#12 Many of the major trading partners of the United States are expressing deep resentment regarding the new quantitative easing policy announced by the Fed. Ambrose Evans-Pritchard recently described the growing animosity this way….
Li Deshui from Beijing’s Economic Commission said a string of Asian states share China’s “deep bitterness” over dollar debasement, and are examining ways of teaming up to insulate themselves from the tsunami of US liquidity.
#13 For many analysts, the economic collapse of the United States comes down to cold, hard math. For example, the former CEO of the tenth largest bank in the United States says that it is a “mathematical certainty” that the U.S. government will eventually go bankrupt.
#14 According to a recent article on CNBC, the financial world is already buzzing about QE3….
“They’re already talking about QE3,” said Dave Rovelli, managing director of US equity trading for Canaccord Adams. “Eventually we’re going to be printing so much money the dollar is going to really go down and everybody’s going to try to deflate their currency against us. I just don’t know how this could end well.”
So is that all the Federal Reserve has left?
Are they just going to keep pouring bags of money into the economy until things get back to “normal”?
Are we going to have “Quantitative Easing 3″, “Quantitative Easing 4″, and “Quantitative Easing 5″?
Tags: Barack Obama, Debt, Dollar, Economy, Fed, Federal Reserve, Food stamps, Global News, Government, Obama administration, Politics, Society, U.S.
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