Wednesday, November 26, 2008

Americans' Food Stamp Use Nears All-Time High

The fallout from the eight years of misrule and hostility towards regular Americans of the Chimperator and the Congress which the GOP controlled for over 6 years continues to unfold with terrible consequences for working Americans. Would that we could sweep the Chimperator from office immediately in order that efforts to save the economy could begin in earnest. One measure of the damage done - in addition to the financial market meltdown - is the rise in the number of citizens now on food stamps in order to survive. Does any of this distress the Chimperator? It seems not. On many fronts, the Chimperator deserves to be impeached, not to mention tried for war crimes. A new Washington Post story looks at the food stamp disaster. Here are some highlights:
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Fueled by rising unemployment and food prices, the number of Americans on food stamps is poised to exceed 30 million for the first time this month, surpassing the historic high set in 2005 after Hurricane Katrina. The figures will put the spotlight on hunger when Congress begins deliberations on a new economic stimulus package, said legislators and anti-hunger advocates, predicting that any stimulus bill will include a boost in food stamp benefits.
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"We soon will have the most food stamps recipients in the history of our country," said Jim Weill, president of the Food Research and Action Center, a D.C.-based anti-hunger policy organization. "If the economic forecasts come true, we're likely to see the most hunger that we've seen since the 1981 recession and maybe since the 1960s, when these programs were established."
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Analysts attribute the jump primarily to rising unemployment, which hit 6.5 percent in October and is predicted to increase to 8 percent by the end of 2009, but rising food costs are also a factor. Although prices have fallen from the levels of this past spring, they remain high. In October, the consumer price index for food and beverages had jumped 6.1 percent over last year. Staples such as eggs and bread rose even faster.
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Economists say an increase in food stamp benefits would help the economy overall by concentrating relief on those most likely to spend the money quickly, pumping dollars into an economy desperate for demand. According to Mark Zandi, chief economist of the rating agency Moody's Economy.com, every $1 spent on food stamp benefits generates $1.73 of economic activity, more than extending unemployment benefits or offering state fiscal relief.

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