Any thoughts of an abatement of the increase of food stamps recipients were squashed today as I pulled up the latest government statistics on those productive citizens of the US that receive assistance in the form of food stamps.
As you might recall last month, the increase in people taking stamps had its lowest gain in more than 25 months, so foolishly I thought that there would be a chance that the number of folks on the government dole might have a chance of actually decreasing this month.
WISHFUL THINKING WON'T MAKE THE SITUATION BETTER
Once again, my assumption was completely wrong as we find that this month's increase equaled the 1 year average growth rate. 44.6 million families received benefits at an annualized cost of $6 Billion. The average family receives about $284 a month in free food.
So, let me see here. We have a stagnant economy where food, energy, and all costs are increasing. We have a poor job environment where there are no prospects for wage increases, a terrible housing market, and a US dollar that is frankly in the toilet. On top of all that, the Fed's transfusion of QE II is now ending. That's that bad news of course, the good news is that awesome companies like Linked In have gone public and have captured the hard earned money of investors on the hopes that there will be other suckers that come and pay higher prices for a company with little revenues, but a whole lot of potential (snicker).
WHAT DO THEY KNOW THAT THE OTHER FOLKS DON'T?
Perhaps it is just me, but I thought the goal was to turn the economy around, not add more and more folks to the government assistance list. We know that the Fed has been doing, but what is our CONgress or administration doing to make our nation's small businesses get back on track? Do any of them have a plan? Perhaps these are the wrong questions. Maybe I should be wondering what it is that 1 in 7 Amerikans know that I don't. These guys may know the tricks that I don't when it comes to receiving $284 a month in these tough economic times. My guess is that these guys will continue to convince others that the water is just fine and that others should join them.
GOATMUG
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