mybudget360.com / By mybudget360 / March 12, 2013
It is a dichotomy that speaks to the current state of our economy. Food stamp usage has peaked at the very same time that the Dow Jones Industrial Average is setting new highs. Of course, the Dow is setting new nominal highs but still has a way to go to catch up to the eroding effects of inflation. You have to really ask how is it possible that at a time where so much financial wealth is available that so many people, over 47 million people in our country, are relying on food assistance just to get by. Where is all the wealth going? The financial system has been propped up with trillions of dollars of bailouts and loan programs and has allowed the same kind of speculation that caused our serial bubbles to once again emerge. Many people are speculating in places like Las Vegas and Arizona and crowding out your typical family simply looking to buy a simple home or find a rental. The fact that we are facing a peak in food stamp usage and seeing a new high with the Dow is very telling in the sense that it shows that we are truly becoming a society with a smaller middle class.
Food stamps hit a new peak
We have never had so many Americans on food stamps as a percentage of our population: