Are you on food stamps yet?
New data shows that 41 million Americans, in 19 million households, participated in food stamp programs in June, 2010.
As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is continuing to rise.Skip to next paragraph
Writer, The PaperEconomy Blog
'SoldAtTheTop' is not a pessimist by nature but a true skeptic and realist who prefers solid and sustained evidence of fundamental economic recovery to 'Goldilocks,' 'Green Shoots,' 'Mustard Seeds,' and wholesale speculation.
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In fact, household participation has been climbing so steadily that it has far surpassed the last peak set as a result of the immediate fallout following hurricane Katrina.
The latest data released by the Department of Agriculture shows that, on a year-over-year basis, household participation has increased 20.28% while individual participation, as a ratio of the overall population, has increased 16.50% over the same period.
The June results confirm that participation is continuing to climb, likely as a result of the jump in total unemployment, driving the nominal benefit costs up an lofty 17.73% on a year-over-year basis to $5,504,541,352 for the month.
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