USA becomes Food Stamp Nation but is it sustainable?
By Kristina Cooke
Reuters – 22 August 2011
There are now almost 46 million people in the U.S. on food stamps, roughly 15 percent of the population. That's an increase of 74 percent since 2007, just before the financial crisis and a deep recession led to mass job losses.
The cost has doubled to reach $68 billion in 2010 -- more than a third of the amount the U.S. government received in corporate income taxes last year -- which means the program has started to attract the attention of some Republican lawmakers looking for ways to cut the nation's budget deficit.
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My comment...
This article documents the growing gulf between the haves and the have-nots. 15% of the U.S. population is on food stamps, at an annual cost of $68 Billion. Prediction: Walmart parking lots will soon feature pay toilets, showers, laundromats and mini-hotels converted from shipping containers.
TheNewGildedAge.blogspot.com This blog focuses on the growing inequality of income and wealth in the U.S. As Warren Buffett said in 2008: “There's class warfare, all right, but it's my class, the rich class, that's making war, and we're winning.”
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