Wednesday, September 5, 2012

The Food Stamp President

Hope and Change comes wrapped in government dependency, courtesy of an ever deteriorating U.S. economy.

Bloomberg reports
Food-stamp use reached a record 46.7 million people in June, the government said, as Democrats prepare to nominate President Barack Obama for a second term with the economy as a chief issue in the campaign.

Participation was up 0.4 percent from May and 3.3 percent higher than a year earlier and has remained greater than 46 million all year as the unemployment rate stayed higher than 8 percent. New jobless numbers will be released Sept. 7. ...

Food-stamp spending, which more than doubled in four years to a record $75.7 billion in the fiscal year ended Sept. 30, 2011, is the U.S. Department of Agriculture’s biggest annual expense....

Food-stamp enrollment is rising partly because the USDA is pushing higher participation too aggressively, giving government money to people who may not need or want it, U.S. Senator Jeff Sessions said in a telephone interview.
‘Government Incompetence’

“This administration has been hawking food stamps,” said the Alabama Republican, who has called for lower spending on the program. “Every additional dollar in this program is borrowed money,” he said. “It’s one more example of government incompetence.” ...

Spending on what’s officially called the Supplemental Nutrition Assistance Program totaled $6.21 billion in June, 0.4 percent higher than the previous month and 2.8 percent more than a year earlier. The record is $6.26 billion spent in September 2011.

About 47 percent of recipients are children, and 8 percent are elderly, according to the USDA. About half of all new recipients leave the program within 10 months.

How tragic for this country to be so dependent on government handouts.. and those in government continue to push more people into dependency with the horrific monetary policies they pursue.

We've reached an unbelievable amount of debt, 16 Trillion!

The graphs are just astounding.. and unfortunately things are not going to get any better, especially if they go on with QE3 (AKA monetizing debt and printing more money)

Obama's Hope and Change ... that's what it looks like.