Posted on 12/09/2012 8:56:14 PM PST by Errant
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.
(Excerpt) Read more at zerohedge.com ...
Big Labor’s “Fun With Numbers Fridays” might get the boneheads in the “media” all orgasmic and titillated but they sure don’t do much for the average American.
Forward!
But the Government reports unemployment is down and the economy is growing. Somebody must be fibbing.
I’ve been told hundreds of times this year that the economy is in a rebound, housing is coming back and we’ve created millions of jobs. Were they lying?
It would be unfair to say: Bush’s fault. It’s also Israel.
I don’t believe anything this administration says!
I believe some of it. When Obama says he wants to raise taxes I believe him.
When he says he only wants to do it on the rich I pull a Wilson on him.
It’s the new America. Work part-time than supplement the income with entitlements. You can live a middle class lifestyle, with no education, no skillset, and minimal work effort.
Take the famous words of Al Gore: “up is down, down is up.”
Now you know why.
And a really accurate unemployment percentage would include those working age who adults are on the major welfare programs and not working.
On Friday:
Five charts that show how solid US consumers are nowhttp://finance.yahoo.com/news/five-charts-show-solid-us-183047293.html
This Morning:
.
Consumer spending weakens, WSJ reports
Theflyonthewall.com – 14 minutes ago.
http://finance.yahoo.com/news/consumer-spending-weakens-wsj-reports-120825727.html
Consumer Spending Wobbles
http://finance.yahoo.com/news/consumer-spending-wobbles-051200549.html;_ylt=A2KJ3CVN18VQoRoAeI3QtDMD
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