Friday, August 5, 2011

Obama Sets Another Record

From CNN: Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.
The number of Americans using the government's Supplemental Nutrition Assistance Program (SNAP) -- more commonly referred to as food stamps -- shot to an all-time high of 45.8 million in May, the USDA reported. That's up 12% from a year ago, and 34% higher than two years ago.
The program provides monthly benefits to low-income individuals and families, which they can use at stores that accept SNAP benefits.
To qualify for food stamps, an individual's income can't exceed $1,174 a month or $14,088 a year -- an amount that is 130% of the national poverty level.
The average food stamp benefit was $133.80 per person and $283.65 per household in May.
http://money.cnn.com/2011/08/04/pf/food_stamps_record_high/index.htm?iid=HP_River
In the two years Obama has been president, there has been a 34% increase in the number of people on food stamps.
Obama was supposed to be the savior of the poor and middle class but he has personally destroyed parts of the middle class and has completely stiffed the poor.
The most frustrating part is that when worked at Wal Mart, I would see all kind of things being bought with food stamps. About the only things not covered is booze, cigarettes and hot food. Porter House steak, yep, crab, yep, shrimp, oh yeah. All courtesy of the taxpayer.
And of course, illegal immigrants are using food stamps and there are many people, especially drug users, who sell their food stamps for pennies on the dollar.
That's not to say the there are people who need food stamps, of course there is but there is also abuse out there as well and having 15% of people on food stamps is nothing to be proud of, either by Obama or those on food stamps.
Anyways, this is just more evidence that Obama's economy sucks and these food stamps are now given to 15% of the U.S. population.
Obama: Worst President ever.

1 comment:

  1. The 1994 deregulation passed by the GOP and signed by Clinton lead the way to the collapse. Then the anti-oversight, anti-regulation approach of the GOP congress & GW Bush, coupled with Greenspan's near-religious belief in an infallible market made the bubble & collapse a reality.

    Now Obama has done less than he could have to get us out of this, but the GOP congress has stopped every effort except the initial stimulus. Basic back of the envelope math says we needed some $3T in stimulus. Instead we got $800B in stimulus, and for political reasons 1/3 of it was inefficient.

    So yeah, every unemployment and poverty expense is high. How do we fix that?

    Politically viable:
    1. mortgage cram downs -- smaller mortgage payments means more money for other expenses
    2. trade deals -- congress needs to pass these to help manufacturing
    3. aggressively fight China on currency manipulation -- also helps manufacturing
    4. stop paying interest on fed deposits -- encourage banks to loan this money out

    Obama's record:
    1. Went with TARP instead.
    2. Obama negotiated the trade deals, but Congress won't vote on them.
    3. Obama is negotiating instead of fighting. It's anyone's call which is more productive.
    4. No action here.

    My broad take is that Obama could have been more aggressive, especially with mortgage cramdowns, but that on most fronts he's been as effective as any president could be in the fact of opposition to every effort of any sort from the GOP. Hell, when Obama proposes solutions straight from the GOP they immediately oppose them.

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