Posted on 11th February 2013 by Administrator in Economy |Politics |Social Issues

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While the top 10% of society that own 90% of the stocks are triumphantly hailing this economic recovery, as their stock portfolios rise on QE to infinity Fed policies, the other 90% sink further into debt and despair. Consumer debt and the number of people on food stamps both have hit new all-time highs. These new highs are being funded by the tax dollars of the steadily declining working middle class. We will pay for the Ally Financial subprime auto loan losses and we’ll pay for the hundreds of billions in student loan losses coming down the pike. The food stamp bill is now $80 billion per year. The cost in 2007 was $30 billion per year. 20% of all the households in the U.S. are now on foodstamps, and most of these households really need it to survive. Are we living in a Charles Dickens novel?

Households On Foodstamps Rise To New Record

Tyler Durden's picture

Submitted by Tyler Durden on 02/11/2013 08:06 -0500

While hardly presented by the mainstream media with the same panache dedicated to the monthly ARIMA-X-12 seasonally-adjusted, climate-affected, goal-seek devised non-farm payroll data, the three month delayed Foodstamp number is according to many a far greater attestation to the “effectiveness” of the Obama administration to turn the economy around. And far greater it is: since his inauguration, the US has generated just 841,000 jobs through November 2012, a number is more than dwarfed by the 17.3 million new foodstamps and disability recipients added to the rolls in the past 4 years. And since the start of the depression in December 2007, America has seen those on foodstamps and disability increase by 21.8 million, while losing 3.6 million jobs. End result: total number of foodstamp recipients as of November: 47.7 million, an increase of 141,000 from the prior month, and reversing the brief downturn in October, while total US households on foodstamps just hit an all time record of 23,017,768, an increase of 73,952 from the prior month. The cost to the government to keep these 23 million households content and not rising up? $281.21 per month per household.

Total Americans on foodstamps:

Total households on foodstamps and average benefit per household:

Monthly change in Foodstamp and Disability recipients vs jobs since December 2007:

Cumulative change in jobs vs Foodstamps and Disability Recipients:

Source: SNAP

  1. Pirate Jo says:

    I wonder how many were added to the foodstamp rolls because they were born there.

    Like or Dislike: Thumb up 4 Thumb down 0

    11th February 2013 at 1:03 pm

  2. AWD says:

    Silly rabbit, we are having an economic recovery BECAUSE of disability and food stamps. Just ask the millions of store owners, the strip clubs, liquor stores, and the Waltons (that own Wal Mart).

    Half the population (that aren’t on welfare/disability/unemployment vacations) make less than $30,000 per year. Thank God for credit cards, pay day and car title loans, and home equity loans (which are making a huge comeback). Since property prices have risen so much (because banks are keeping foreclosures off the market), people are once again using their homes as ATM’s to buy SUV’s. It’s a glorious day in the socialist states of America.

    “…And at this point, an astounding 53 percent of all American workers make less than $30,000 a year.

    Oh, but “things are getting better”, right?

    Maybe if you live on Wall Street or if you are an employee of the federal government.

    But for most families this economic decline has been a total nightmare. Median household income in America has fallen for four consecutive years. Overall, it has declined by over $4000 during that time span.

    Sometimes people forget how good things were about a decade ago. About three times as many new homes were sold in the United States in 2005 as were sold in 2012.

    But we like to live in denial.

    In fact, a lot of families are trying to keep up their standards of living by going into tremendous amounts of debt.

    Back in 1983, the bottom 95 percent of all income earners in the United States had 62 cents of debt for every dollar that they earned. By 2007, that figure had soared to $1.48.”

    Like or Dislike: Thumb up 3 Thumb down 1

    11th February 2013 at 1:10 pm

  3. sangell says:

    Come Nov.1 the average benefit will be cut by $8/month as SNAP benefits were reduce to pay for some other programs Obama wanted. Of course there will be all kinds of caterwauling about this cut as the day nears but the truth is a large portion of those receiving the benefits are selling their cards for cash ( to buy drugs or other luxuries) and relying on school nutrition programs and food banks to actually feed their children.

    The program should be ended and replaced with either bulk food distribution similiar to UN famine relief programs where a people are given a bag of rice and beans, some cooking oil and a few canned vegetables to sustain them. Alternatively allow the hungry to go to school cafeterias and receive a free, properly portioned and nutritious meal. Setting people loose in a Krogers or Walmartwith an EBT card is almost guaranteed to leave people hungry by the end of the month as the benefit amount is based on Department of Agriculture minimum basic food requirements not Frito Lay and Little Debbie maximum junk food satisfaction.

    Like or Dislike: Thumb up 3 Thumb down 0

    11th February 2013 at 1:14 pm

  4. AWD says:

    Look at what is happening to money. Can hyperinflation be far behind?

    Monetary base has gone up exponentially, thanks to Bernanke

    and purchasing power of those dollars is falling off the charts

    Thank goodness for Obamacare taxes, reinstated payroll taxes, increasing sales, property, state and local taxes.

    Like or Dislike: Thumb up 4 Thumb down 1

    11th February 2013 at 1:18 pm

  5. AWD says:

    Show This To Anyone That Believes That “Things Are Getting Better” In America

    “But “things are getting better”, right?

    Today, the total amount of debt in the U.S. economic system has grown to more than 55 trillion dollars.

    Can anyone say bubble?

    According to the Economic Policy Institute, the United States is losing half a million jobs to China every single year.

    Overall, more than 56,000 manufacturing facilities in the United States have been shut down since 2001. During 2010, manufacturing facilities in the United States were shutting down at a rate of 23 per day. How can anyone say that “things are getting better” when our economic infrastructure is being absolutely gutted?

    Today, more Americans than ever have found themselves forced to turn to the federal government for help.

    Overall, the federal government runs nearly 80 different “means-tested welfare programs”, and at this point more than 100 million Americans are enrolled in at least one of them.

    According to the U.S. Census Bureau, 49 percent of all Americans live in a home that receives direct monetary benefits from the federal government. Back in 1983, less than a third of all Americans lived in a home that received direct monetary benefits from the federal government.

    So is it a good sign or a bad sign that the percentage of Americans that are financially dependent on the federal government is at an all-time high?

    And in future years the number of Americans that are receiving benefits from the federal government is projected to absolutely skyrocket.

    Back in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid, and things are about to get a whole lot worse. It is being projected that Obamacare will add 16 million more Americans to the Medicaid rolls.

    If you take a look at Medicare, things are very more sobering.

    As I wrote recently, it is being projected that the number of Americans on Medicare will grow from 50.7 million in 2012 to 73.2 million in 2025.

    At this point, Medicare is facing unfunded liabilities of more than 38 trillion dollars over the next 75 years. That comes to approximately $328,404 for every single household in the United States.

    Are you ready to contribute your share?”

    Like or Dislike: Thumb up 5 Thumb down 1

    11th February 2013 at 1:24 pm

  6. JIMSKI says:

    I disagree that we will ” pay ” for any of this shit debt. We will all ” pay ” but not with money.

    If I owe you 55,000 bucks I am fucked.
    If I owe you 55 TRILLION bucks YOU are fucked

    Well-loved. Like or Dislike: Thumb up 6 Thumb down 0

    11th February 2013 at 5:09 pm

  7. llpoh says:

    AWD – unbelievable you are getting thumbs down for last two comments. I guess there are some visitors to the site that cannot stand the truth.

    Like or Dislike: Thumb up 5 Thumb down 1

    11th February 2013 at 5:22 pm

  8. Maddie's Mom says:

    Jeebus must be unhappy.

    Like or Dislike: Thumb up 1 Thumb down 0

    11th February 2013 at 9:46 pm

  9. Makati1 says:

    141,000 new food stamp recipients in November.

    141, 000 x 2 ft. /5280 = another 53 miles added to the soup lines in America.

    That brings the total to 18,070 miles of people waiting to use their food debit cards at the local grocery.

    That’s all the way From New York City to Auckland, New Zealand and back by air.

    Or a line from Prudhoe Bay, Alaska to Rio de Janeiro, Brazil, on land and return to Prudhoe Bay (Oil country in the Artic Circle). About 9,000 miles each way.

    THAT is why the cards exist. Lines like that would make the Depression obvious even to the blind.

    Like or Dislike: Thumb up 4 Thumb down 0

    11th February 2013 at 10:24 pm

  10. Hollow man says:

    Just another way to print money without us dumshits knowing

    Well-loved. Like or Dislike: Thumb up 5 Thumb down 0

    11th February 2013 at 11:36 pm

  11. Thinker says:

    WSJ: Millions Improperly Claimed U.S. Phone Subsidies

    The U.S. government spent about $2.2 billion last year to provide phones to low-income Americans, but a Wall Street Journal review of the program shows that a large number of those who received the phones haven’t proved they are eligible to receive them.

    Like or Dislike: Thumb up 0 Thumb down 0

    11th February 2013 at 11:47 am

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