Food Stamp Usage Hits 18 Sequential Record High At 40.8 Million
Not much commentary needed here as boston.com says it all: "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. 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. The figure is projected to rise to 43.3 million in 2011." But who cares: can someone please tell these ungrateful sods their stocks are up like 70% since the Fed became the market in March 2009.