Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
The Stock Market Bear / Crash indicator Window - 9th Mar 25
Big US Tech Stocks Fundamentals - 9th Mar 25
No Winners When The Inflation Balloon Pops - 9th Mar 25
Stocks, Crypto and Housing Market Waiting for Trump to Shut His Mouth! - 27th Feb 25
PepeCoin (PEPE): Anticipating Crypto Reversals using Elliott Waves - 27th Feb 25
Audit the Fed, Audit Fort Knox, Audit Everything - 27th Feb 25
There Are Some Bullish Indicators in the Silver Market - 27th Feb 25
These Metrics Identify Only 10 AI Related Stocks That Are Undervalued - 27th Feb 25
Stocks, Bitcoin, Gold and Silver Markets Brief - 18th Feb 25
Harnessing Market Insights to Drive Financial Success - 18th Feb 25
Stock Market Bubble 2025 - 11th Feb 25
Fed Interest Rate Cut Probability - 11th Feb 25
Global Liquidity Prepares to Fire Bull Market Booster Rockets - 11th Feb 25
Stock Market Sentiment Speaks: A Long-Term Bear Market Is Simply Impossible Today - 11th Feb 25
A Stock Market Chart That’s Out of This World - 11th Feb 25
These Are The Banks The Fed Believes Will Fail - 11th Feb 25
S&P 500: Dangerous Fragility Near Record High - 11th Feb 25
Stocks, Bitcoin and Crypto Markets Get High on Donald Trump Pump - 10th Feb 25
Bitcoin Break Out, MSTR Rocket to the Moon! AI Tech Stocks Earnings Season - 10th Feb 25
Liquidity and Inflation - 10th Feb 25
Gold Stocks Valuation Anomaly - 10th Feb 25

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Latest Obama Outrage: More People on Food Stamps Than Working Full Time

Politics / US Politics Jul 10, 2013 - 12:53 PM GMT

By: Money_Morning

Politics

Frank Marchant writes: This Obama economy has soup lines as far as the eye can see. It also appears that many could easily be standing in two, three or even four lines simultaneously!

There are 103.4 million people currently enrolled in any one of 15 subsidized federal food assistance programs. The most people in our nation's history.


Due to the governments sloppy management of resources it's anybody's guess how many people are standing in how many lines, at the same time.

One thing we do know for sure is one third of our nation is now receiving Subsidized Food Assistance.

These programs are extremely expensive and the cost is increasing daily. In 2012 the bill to taxpayers paid was a staggering $114 billion.

But sit down if you're standing, because it gets worse!

Even more shocking: The Bureau of Labor Statistics (BLS) reports there are 97,180,000 full time workers in the private sector.

This means: The number of people receiving food stamps is greater than the number of people in America working full time.

Never in our nation's history has this been the case. This is a historical first.

One reason is, Subsidized Food Assistance programs are run rather loosely. With few stopgaps and oversights the same people can be in several federal food lines at the same time.

In many cases all daily meals can be provided using different combinations of any or all of the15 different programs. From a July audit by the Inspector General of the USDA's Food Nutrition Service (FNS):

"The Office of Inspector General (OIG) identified that the potential for overlap and duplication exists among the Food and Nutrition Service's (FNS) 15 nutrition programs, and determined that FNS may be duplicating its efforts by providing participants total benefits in excess of 100 percent of daily nutritional needs when households and/or individuals participate in more than one FNS program simultaneously."

From the above statement It appears that the Inspector General's Office does realize the potential opportunity for fraudulent activity is abundant. Sales receipts like the one below infuriate the taxpayers who don't use food stamps.

According to Senator John Thune (R-S.D.), food stamp participation has increased at 10 times the rate of job creation under Obama.

Eventually the number of full time workers will be dwarfed by those on Food Assistance programs. Unfortunately, it is entirely possible that we are creating and perpetrating a lifestyle of food entitlements not unlike housing welfare subsides.

When people are raised to believe the government is supposed to feed them it is unhealthy for the nation. However It is even more unhealthy for those who are raised to think of this as a lifestyle.

As the entitlement population grows so grows the cost and amount of subsidized programs.

It has been my experience that anything the government does at a cost of $3.00, private industry can do for $1.00.

What do you think? Should federal food assistance continue to expand?

Source :http://moneymorning.com/2013/07/10/latest-obama-outrage-more-people-on-...

Money Morning/The Money Map Report

©2013 Monument Street Publishing. All Rights Reserved. Protected by copyright laws of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), of content from this website, in whole or in part, is strictly prohibited without the express written permission of Monument Street Publishing. 105 West Monument Street, Baltimore MD 21201, Email: customerservice@moneymorning.com

Disclaimer: Nothing published by Money Morning should be considered personalized investment advice. Although our employees may answer your general customer service questions, they are not licensed under securities laws to address your particular investment situation. No communication by our employees to you should be deemed as personalized investent advice. We expressly forbid our writers from having a financial interest in any security recommended to our readers. All of our employees and agents must wait 24 hours after on-line publication, or after the mailing of printed-only publication prior to following an initial recommendation. Any investments recommended by Money Morning should be made only after consulting with your investment advisor and only after reviewing the prospectus or financial statements of the company.

Money Morning Archive

© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in