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Food Stamp Usage at All Time Record

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THE MODERN BREAD LINE
DailyFeed
The number of Americans receiving food stamps has reached a new record.

July food stamp usage rose 1.4% from June, hitting a new record of 41.8 million, and 17.5% higher than the 35.6 million receiving food stamps a year ago, according to the U.S. Department of Agriculture. Participation has now set records for 20 straight months.

Here is a link to the data.

Not scary enough? More per Bloomberg: “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.”

More Americans are participating in the so-called Supplemental Nutrition Assistance Program (SNAP) as the labor market remains lousy. The current jobless rate of 9.6% isn’t too much lower than the most recent peak of 10.1% during October 2009.

Unemployment in September could have inched up to 9.7%, according to Briefing.com, as we wait for the release of last month’s rate due out on October 8.

If Americans are on food stamps, and appreciate the refreshing taste of a cold Coke, they shouldn’t make their way to New York: Mayor Bloomberg wants the federal government to ban the use of food stamps to buy sugary drinks.

According to a report this morning in the New York Post, the Mayor wants the feds to eliminate any drinks with more than 10 calories per eight ounces from the list of permitted purchases.

So sure, maybe we can’t offer these down-and-out Americans a job, but we can try and make sure their choppers remain cavity-free.
POSITION:  No positions in stocks mentioned.
TAGS:  UNEMPLOYMENT, PEPSI, FOOD STAMPS   

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