And You Thought You Had Problems

Just be glad that you are not one of the more than 42 million Americans that are on food stamps. This is yet another example that adds to the growing national debt of America and is negative for the USD.

 Food stamps have become a lifeline for workers who have lost their jobs, particularly among the growing share of unemployed Americans who have also exhausted their unemployment benefits. Lines at grocers at midnight on the first of the month have signaled that, in many cases, those benefits aren’t tiding families over and they run out before their next check kicks in.

Some 42,389,619 Americans received food stamps in August, a 17% rise from the same time a year ago, according to the U.S. Department of Agriculture, which tracks the data. That number is up 58.5% from August 2007, before the recession began.

Now talk about embarrassing, right under Obama's nose, Washington, D.C. had the largest share of residents receiving food stamps: More than a fifth, 21.1%, of its residents collected assistance in August. Read the entire Wall Street Journal article here.