The number of Americans who are receiving food stamps rose to a record 40.8 million in May as the jobless rate hovered near a 27-year high, the government reported yesterday.
Recipients of Supplemental Nutrition Assistance Program subsidies for food purchases jumped 19 percent from a year earlier and increased 0.9 percent from April, the US Department of Agriculture said in a statement on its website.
Participation has set records for 18 straight months.
Unemployment in July may have reached 9.6 percent, according to a Bloomberg News survey of analysts in advance of the Aug. 6 release of last month’s rate. Unemployment was 9.5 percent in June, near levels last seen in 1983.
An average of 40.5 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.
One thing I've noticed about this administration's policies is that they all are designed to put more and more people onto the public doll. Every. Single. One.
Obamacare will burden insurance companies to the point of bankruptcy. Ushering in the single payer public option.
Cap And Trade will drive the cost of coal and oil up. Artificially causing the need for 'Green' energy products that will be tax payer subsidized for use.
Perpetual bail outs for Freddie and Fannie. They're 'Too big to fail'.
It will drive the middle class to extinction with a slow bleed on the wallet. Higher costs will mean spending less money on other things like vacations, a nicer car or larger house.
All with an end game of a population at the behest of a government service. At that point, the real control happens.
It's all a bit of an abstraction on what I laid it out above. Much of it depends on a complacent election this November. Which might not happen after all.
Sort Of Related: Government Motors no longer wants to be known as Government Motors. But Ed Whitacre has a problem. He's trying to tell the 800 pound gorilla to get off the couch and leave.