Friday, 17 December 2010

Latest Data Shows that 500,000 People were Added to the Food Assistance Program in One Month. 6 Million Americans Added over the Last Year.

The shrinking of the American middle class is painful to watch. Shopping at the grocery store I’ve noticed more and more people with unique debit cards that don’t look like your typical debit or credit card. These are actually the modern day food stamps and help to take away the stigma of pulling out a pile of paper coupons. My anecdotal observations are confirmed by the data.

Since September of 2009 we have added a stunning 6,000,000 Americans to the nationwide food assistance program. In fact, even as some are touting how great things are in the last month we added 521,000 more Americans to the food assistance program. Let me reiterate, we added half a million Americans to the food assistance program in the latest month of data. Is this really what we have in mind as a recovery? The latest data shows 43,000,000 Americans now receive food assistance. When we chart this data out it is rather startling.

There has been no broad economic recovery in the US only a recovery in the stock market with a temporary bailout of the big corporations. When you flush big institutions with cash (printed Fed monies) things will look good. Meanwhile on mainstreet the suffing continues ...

[Posted at the SpookyWeather blog, December 17th, 2010.]

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