How can there be any talk of a “recovery” when more than one million “new” people were so desperate they needed to get government food stamps? How desperate must the 45.7 million Americans on food stamps be if $166 per person or $283.65 per family is really going to help?
A tiny little paragraph about this report was buried today on page A13 of the New York Times.
Why aren’t economists and pundits and the Beltway crowd talking about this disgraceful statistic? This says EVERYTHING about America’s economy, and it is very frightening.
From Zero Hedge:</b>
But wait, there’s more. Digging into the numbers reveals something pecuiliar: virtually the entire surge in monthly SNAP participation is due to one state alone: Alabama, which saw those living on foodstamps jump from 868K to 1.762MM. That’s 36% of Alabama’s population. Is this merely a grand rehearsal for the Jefferson County bankruptcy? Did the state see a mass surge in foodstamp use as hundreds of thousands are trying to game the system in advance of what will be an apic Chapter 9? And if yes, what does that mean for all the other states which will promptly follow in the footsteps of Jefferson County, and for US foodstamp participation?
Which begs the question: will Obama be the first president under whose rule total foodstamp usage hit 100 million? Surely, by then there will be a Nobel price for destroying one’s middle class better and faster than any communist in the history of the world, so at least there will be something to memorialize it with.
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