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Foodstamps Soar By Most In 16 Months: Over 1 Million Americans Enter Poverty In Last Two Months

Tyler Durden's picture





 

And we thought last month's delayed foodstamp data was bad. The just reported foodstamp number for September was a doozy, with 607,544 new Americans becoming eligible for foodstamps, as a record 47.7 million Americans are now living in poverty at least according to the USDA. The monthly increase was the highest since May 2011, and with August's 421K new impoverished America, over 1 million Americans made the EBT card their new best friend. It is unclear just which atmospheric phenomenon will get the blame for this unprecedented surge in poverty, which comes at a time when the pre-election economic data euphoria was adamant that the US economy was on an escape velocity to utopia. Instead what we do know is that in August and September, over three times as many foodstamp recipients were add to the economy as jobs (324,000). We also know that with the imminent impact of Sandy, which will send foodstamp recipients soaring, it is now looking quite possible that the US may end 2012 with just over a mindboggling 50 million Americans living in absolute poverty and collecting the $134.29 average monthly benefit per person, instead of working. Welcome to the recovery indeed.

Individual Americans on foodstamps:

Foodstamps at the household level rose to a record 24 million:

Aggregating foodstamp, disability and nonfarm payrolls data shows that since the start of the Depression in December 2007, 21.8 million Americans have shifted more or less permanently to the entitlement line, even as the US still has to generate 4.4 million jobs just to break even.

And the same shown on a monthly basis:

Source: SNAP

 


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Mon, 12/10/2012 - 08:00 | Link to Comment nathan1234
nathan1234's picture

Sure. And consumer sales will go up.

The Bullshitters BLS data needs to be condemned.

Those who are doing it at their bosses request need to remember that they are destroying fortunesby misleading information and will be facing jail bars in the near future.

Had no choice is no answer.

The country comes first along with the 99%.

 

Mon, 12/10/2012 - 08:51 | Link to Comment rsnoble
rsnoble's picture

Let's see 600k+ newly edgible which means a loss of income yet a dwindling UEI rate. Bullshit.

God forbid the newly elgible was based on having a new child vs. loss of income. 

People seriously need to take up birth control bringing a child into this horseshit is totally irresponsible and mostly greedy.

I don't really care to bash too many of these people when you have corporations spending 24/7 trying to figure out how to fuck them over.  Granted some of them are worthless im sure.

 

Mon, 12/10/2012 - 11:23 | Link to Comment spooz
spooz's picture

You seriously need to quit making assumptions.  The US birthrate is plumetting, and is at its lowest since 1920.

http://articles.washingtonpost.com/2012-11-29/local/35585758_1_birthrate...

Mon, 12/10/2012 - 11:31 | Link to Comment rsnoble
rsnoble's picture

Thanks for taking the time to look that up for me so I didn't have to do it. That's actually good news.  The other good news is teenage girls are way more open to anal these days.

Mon, 12/10/2012 - 11:26 | Link to Comment helping_friendl...
helping_friendly_book's picture

Do you consider demographics when making your point? Children born today will be, just, old enough to pay taxes and pay my Social Security and Medicaide. 

Let them bred. Give them a free education too! We have the lowest birth rate since the Great Depression.

Look at this Khazar:

http://www.bloomberg.com/news/2012-12-05/gertler-earns-billions-as-mine-...

He gets to have nine children, make billions by stealing from the poor and live in a country dependent on US Taxpayer subsidies.

Bloomberg writes an article bragging about this scumbag JEW POS.

Makes my skin crawl.

Does anyone else have a problem with what  this guy is doing? 

Mon, 12/10/2012 - 08:58 | Link to Comment IamtheREALmario
IamtheREALmario's picture

If the O's handlers want to create chaos by betraying the population then all they have to do is drive the red, white and blue bus over the financial cliff and stop food stamps. 40 million hungry poor people sold out by the lapdog elitists (who most likely think they will survive because they trust their lying masters), first by sending value adding work overseas, second by making them dependent and then finally by taking away the dog dish.

Culling the population with a crisis event may only be a part of it. Stressing the population to the point where they must commit horrible acts or die may be the bigger picture... a feeding frenzy for the thought leeches.

Champagne anyone?

Mon, 12/10/2012 - 09:14 | Link to Comment rsnoble
rsnoble's picture

I am at a stalemate regarding what you think is going on vs. just a bunch of stupid out of touch rich people thinking they can conquer and rule the world and it's not working.  Or it is working and this is just the side effects. Not sure it was all done on purpose.  Just a bunch of elites wanting to stay in rule and making promises that eventually will come to end and now are all running around behind closed doors wondering what the fuck to do now.  Their response is what scares me.

Mon, 12/10/2012 - 10:44 | Link to Comment youngman
youngman's picture

I do not think Obama will cut off the food stamps...I think he wants everyone on it except the elites...the ruling class....then he has total control....total voting power....who will vote to eliminate one of their freebies...like I said before ...the 47% will become 55-60%...that is what he wants...then he has total control...a consertative will never get elected again

Mon, 12/10/2012 - 11:11 | Link to Comment spooz
spooz's picture

When was the last time a conservative was elected?  You have been brainwashed by duopoly propaganda.

Mon, 12/10/2012 - 09:46 | Link to Comment midtowng
midtowng's picture

Collecting food stamps doesn't mean you don't work. It means you don't earn enough to live on. The lion's share of people on foodstamps are the working poor.

Mon, 12/10/2012 - 10:27 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

It means you don't know how to budget your money.

Mon, 12/10/2012 - 11:09 | Link to Comment spooz
spooz's picture

Right. Just tighten yer belts, peasants, and get used to the new world order.

Mon, 12/10/2012 - 10:53 | Link to Comment Gimp
Gimp's picture

Agree. You probably work at one of the modern "plantations"  such as Walmart, (insert name here) they keep your hours below 30 to avoid benefits and make the state pick-up the tab so you can survive....SAD

Mon, 12/10/2012 - 09:47 | Link to Comment marginnayan
marginnayan's picture

But...But....I thought America was the richest and the most technological advanced country in the world. And the largest contributer of monetary funds to the UN...blah....blah.

Oh! Well, never mind.

 

 

Mon, 12/10/2012 - 10:19 | Link to Comment j0nx
j0nx's picture

I wouldn't call $134 a month being dependent on govt. for daily sustenance. That wouldn't even pay for the bread and milk for the month at the rate that food has been inflating for the past 2 years. You'd literally have to live off top ramen to survive on $134 a month and even that would be a stretch.

Mon, 12/10/2012 - 10:23 | Link to Comment caimen garou
caimen garou's picture

ebt, it's the new american express!

Mon, 12/10/2012 - 10:24 | Link to Comment roadhazard
roadhazard's picture

"Those free loaders need to get off the Gov. tit and get a job". - wingers

Mon, 12/10/2012 - 10:25 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

In the US, poverty means not being able to afford an iPad.

Mon, 12/10/2012 - 10:33 | Link to Comment Clint Liquor
Clint Liquor's picture

I work with a fellow from India. He says "everyone I know in India wants to come to America, where the poorest people are fat".

Mon, 12/10/2012 - 10:33 | Link to Comment Freewheelin Franklin
Freewheelin Franklin's picture

I heard a report a couple weeks ago that said people are moving back to India from the UK because there are more opportunities there.

Mon, 12/10/2012 - 10:31 | Link to Comment ak_khanna
ak_khanna's picture

All the efforts of politicians, government, central banks etc are focused on saving banks instead of targeting job creation which is the only way economy can recover. 
Jobs can be created by initiating the following :

Replace the top management of the too big to fail banks, put the existing ones in prison and charge them with fraud and misrepresentation. Break the banks into smaller ones so that they are no longer a risk to the whole financial system. Implement the Glass Stegall Act.

Use the reclaimed billions of dollars from the arrested bankers and use them to improve the infrastructure of the country. This would create jobs instantly and the improved infrastructure would give the confidence to the small businessman to hire more people.

Tax the richest 5% of the population heavily as they no longer create jobs in the country but outsource the jobs to the low cost developing nations. Stop completely the funding of election candidates by corporates and rich individuals so that their influence on politicians to make rules beneficial to themselves is clipped.

Stopping speculation and derivatives in commodity markets would reduce their prices substantially which would be beneficial to the majority of the population. This would lead to a better standard of living for the middle class families and they would go out and spend helping the revival of the economy.

But in the real world we can keep on dreaming.

http://www.marketoracle.co.uk/Article35345.html
www.letstalkmoney2012.in

Mon, 12/10/2012 - 11:01 | Link to Comment helping_friendl...
helping_friendly_book's picture

You forgot:

Audit the FRBNY and, if found insolvent, force into bankruptcy court just like any other broken corporation.

Mon, 12/10/2012 - 11:32 | Link to Comment semperfi
semperfi's picture

"Jobs can be created by initiating the following :"

1. "reboot" the federal govt - delete all of the existing one and start completely over with the baseline Constitution & amendments

Its like Windows: leave it running for too long and it becomes corrupted, slow, and eventually crashes your computer

Mon, 12/10/2012 - 10:35 | Link to Comment Athenian
Athenian's picture

If 50 million Americans are living in "absolute poverty" as claimed and collecting a mere $134.29 per month, then how many are there living on less than $200, $250? Even at $300, it's $10 a day, to eat, clothe and shelter - I still regard $10 a day absolute poverty. 100 million people maybe.  What's that almost a third of the population?

Mon, 12/10/2012 - 11:06 | Link to Comment Everybodys All ...
Everybodys All American's picture

88 million in U-6 unemployment. That's about a third.

Mon, 12/10/2012 - 10:44 | Link to Comment foodstampbarry
foodstampbarry's picture

Forward comrades!

Mon, 12/10/2012 - 10:50 | Link to Comment Gimp
Gimp's picture

Not to burst any fellow ZH'ers bubble here but the gubbermint can keep this welfare system/scam gong for decades. Don't believe me, look at Europe.

Mon, 12/10/2012 - 11:00 | Link to Comment semperfi
semperfi's picture

1000 years of darkness straight ahead.  Is it too late to turn around?

Mon, 12/10/2012 - 10:57 | Link to Comment semperfi
semperfi's picture

Kenyan Thug & his Marxist Army goal:  everyone on food stamps, so they can control your diet.  And everyone on KenyanCare so they can control your health and 'manage your death', so that money is not wasted on trying to save old people who are going to die soon anyway, and so that they can kill more unborn babies to keep population growth down (see China).  His plan is "exceeding expectations", is a smashing success.

Mon, 12/10/2012 - 12:38 | Link to Comment spooz
spooz's picture

Not much control with food stamps.  You can still buy soda and candy with SNAP, though some would like that changed:

http://www.theatlantic.com/health/archive/2012/06/do-food-stamps-need-mo...

Obamacare is an abomination benefitting crony corporate interests, who treat every claim as a cost to be reduced or denied, where providing health care should be the primary focus.  Single payer is the way to go for so many reasons, from providing better, cheaper health care per capita (as all other developed coutries have discovered) to making our businesses more competitive.

Mon, 12/10/2012 - 11:15 | Link to Comment yogibear
yogibear's picture

Along with Dow 10,000 hat Washington socialist can wear their 50,000,000 food stamp hat.

Bubble Bernanke and the fed can try and solve the problem by printing and devaluing the US dollar.

Mon, 12/10/2012 - 11:19 | Link to Comment cxp
cxp's picture

ITALY: Timeline of key events in Italy for the next few weeks:
- Dec 12 Italy 12-month T-bill auction for E6.5bln 
- Dec 13 Italy mid-month BTP auction
- Dec 14 Italy T-bill redemption for E10.7bln
- Dec 15 Italy BTP bond redemption for E18.686bln
- Dec ? Italy 2013 Budget, If pass Monti will step down as PM 
- Dec 20 Italy T-bill redemption for E3.5bln
- Dec 21 President Napolitano year-end press conference, likely date to 
dissolve parliament
- Dec 27 Italy T-bill redemption for E3.0bln, T-bill/CTZ auction
- Dec 28 Italy BTP/CCTeu auctions 
- Dec 31 Italy T-till redemption for E9.0bln
- Dec 31 Italy CTZ bond redemption for E11.833bln
- Feb ? Italy general election - within 45-70 days after President 
Napolitano dissolves parliament, according to the Constitution

 

The only site with orderbook data for forex trading and upto date headlines from EU bonds space. 

http://tickwatch.com/

Mon, 12/10/2012 - 15:22 | Link to Comment Aurora Ex Machina
Aurora Ex Machina's picture

The OP is missing a trick.

The real moment to know the show is over is when mobile phones (indeed, iphone 5 / 6, March 2013 version onwards) can be used to handle & swipe your allotment of resources. Think I'm joking?

iEBT, although I prefer "iSNAP".

 

Coming next fall.

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