While the capital markets may be cheering that in the past month 120,000 people supposedly found jobs, even if these were largely temporary or part-time just in time for the year end shopping sprees, we wonder how they will react when learning that according to the latest update from the Supplemental Nutrition Assistance Program (SNAP), some 423,000 Americans found their way to minimum way subsistence, courtesy of Food Stamp handouts from Uncle Sam. Since the start of the Second Great Depression, food stamp participation has increased by 18.7 million, and is now at an all time higher 46.3 million. All Bush's fault, or something. At least the chart below appears to be plateauing... Actually, sorry, no isn't.
It's because the government also dropped the eligibility requirements by a ton... therefore more people eligible... therefore more entitlements... therefore US is bankrupt!
ReplyDeleteOh, snap! You mean the dropping unemployment numbers only reflect the number of jobless who haven't run their 99 weeks dry?
ReplyDeleteWho knew?
Wow Obama is so great I'll think I'll vote for him again right after another glass of Kool aid.
ReplyDeleteI'm going to apply now. Steamed crabs are getting to expensive.
ReplyDeleteYou know I hear so much ignorance in comments on this blg. Hardworking people are going under everyday because of unemployment in this country. This is through no fault of their own. Have any of you ever lost a job and couldn't feed your family. What would you do. This could happen to anyone of you. Yes there are some dead beats that receive food stamps but the increase has been caused by the loss of jobs and people are really in need. Everyone that has so much nasty to say better think about it. Karma has a way of coming back to you and it might very well be you next. Never say never.
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