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Are Food Stamps the Soup Lines of this Great Recession?

Posted By admin On December 11, 2009 @ 5:46 am In Money Watch | Comments Disabled

Washington’s Blog [1]
Friday, Dec 11th, 2009

Bloomberg notes [2] that, as of 2007:

In Missouri, about 100 percent who were eligible [for food stamps] that year took advantage of the program, the highest rate in the nation, followed by residents of Maine and Michigan, at 91 percent and 89 percent, respectively …

Things have gotten much worse since 2007:

[3]
As the New York Times notes [4], “one in eight Americans and one in four children” receive food stamps.

Many economists and financial experts have said that we are in a depression. See this [5], this [6] and this [7].

I hope they are wrong, or that – if we were in a depression – we’re out of it now.

But it is indisputable that the unemployment numbers are still grim. Specifically:

  • More people [8] will be unemployed than during the Great Depression
  • By some measures, unemployment is worse [10] than it was during a comparable time-frame in the Great Depression
  • Vice President Biden said [11] recently: “It’s a depression for millions of Americans”

Given the above, Stacy Herbert’s question [12] of today is compelling:

The food stamps story seems to be one that keeps popping up; I guess food stamps are the soup lines of this Great Depression?

 

Note: At least some economists say [13] that food stamps give more bang for the buck in stimulating the economy than just about anything else. And see this [14]. But economic, political and moral questions surrounding food stamps are beyond the scope of this essay.

[15]


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URL to article: http://www.prisonplanet.com/are-food-stamps-the-soup-lines-of-this-great-recession.html

URLs in this post:

[1] Washington’s Blog: http://www.washingtonsblog.com/2009/12/are-food-stamps-soup-lines-of-this.html

[2] notes: http://www.bloomberg.com/apps/news?pid=20601012&sid=aFbqGE.lEdi0

[3] Image: http://www.mybudget360.com/wp-content/uploads/2009/11/food-stamps.png

[4] notes: http://www.nytimes.com/2009/11/29/us/29foodstamps.html

[5] this: http://www.washingtonsblog.com/2009/10/has-government-sowed-seeds-for-green.html

[6] this: http://www.zerohedge.com/article/david-rosenbergs-2010-outlook-recession-really-depression

[7] this: http://www.washingtonsblog.com/2009/10/moodys-bank-loan-loss-rate-worse-than.html

[8] More people: http://www.washingtonsblog.com/2009/01/more-people-will-be-unemployed-than.html

[9] permanent loss of jobs: http://www.washingtonsblog.com/2009/12/has-america-suffered-permanent-loss-of.html

[10] worse: http://www.washingtonsblog.com/2007/08/unemployment.html

[11] said: http://www.washingtonsblog.com/2009/10/biden-this-is-depression-not-recession.html

[12] question: http://maxkeiser.com/2009/12/10/derivatives-suspensions-and-food-stamps/

[13] say: http://www.washingtonsblog.com/2008/12/most-bang-for-buck.html

[14] this: http://www.washingtonsblog.com/2009/09/steve-keen-out-thinks-larry-summers.html

[15] Image: http://www.prisonplanet.com/2009_christmas_special.htm

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