Foodstamps Surge to All Time High
The Obama administration has finally released its report on the number of Americans receiving food stamps. This report was released days after the 2012 election, nine days past its traditional release date. The numbers show that Americans on food stamps is at an all time high. Worse, the report shows the highest one month jump ever recorded.
You may recall that just before the election, the Obama administration announced that Hurricane Sandy was going to delay the release of October's jobless numbers. Many watchers of politics were suspicious about the possible delay in the release of October's unemployment figures since the proper release date was to come just before the presidential election. While the unemployment report was ultimately released on schedule and before the election, now we find out about another report, the food stamp report, delayed for nine days after its traditional release date. This report was also supposed to have been released before the election.
This report is devastating.
Tyler Durden brings us the bad news that the data shows a never before seen 47.1 million Americans on foodstamps. This is an all time high.
But there is an even worse metric in this data. The monthly increase of 420,947 recipients for July was the highest monthly increase ever recorded for one year.
Foodstamps at the household level also soared to an all time high of 22.685 million.
Durden also finds another nugget of info in this data.
Finally, going back to the start of the official start of the depression in December 2007. In the 57 months from then until August 2012, there have been 4.6 million jobs lost even as Americans on food stamps and disability have risen by 21.2 million.
So, this is the great economic success upon which Obama and Biden built their re-election campaign? And why was this data kept secret until after the election?