Ready for another depressing indicator on the state of the U.S. economy under President Barack Obama?
A whopping 15 percent of the U.S. population relied on food stamps during the month of May – a record high. The federal government’s so-called “Supplemental Nutritional Assistance Program” (SNAP) doled out food stamps to 45.8 million people – or roughly one out of every six Americans.
That’s a 12 percent increase from this same time last year – and a 34 percent increase from 2 years ago.
The total cost of all those food stamps? Roughly $77 billion a year (up from $33 billion in 2007) – and that’s not even counting the health care costs associated with this decidedly non-nutritional program.
Not surprisingly, food stamp fraud is also on the rise – with thirty-five states currently permitting millionaires to receive the stamps provided they are not receiving more than $1,174 per month in income.
Hope and change, people … hope and change.
Of course in Obama’s defense, food stamp usage increased by more than 50 percent during the first seven years of the administration of George W. Bush.