A couple of days ago, I speculated that the USDA was holding back the food-stamp report until after the Presidential debate because it was another bad number. And I was right. Not only do we have a new record, but they released the report at 4:39pm on a Friday afternoon when nobody was looking.
In any case, it wasn’t such a bad report. Only 11,532 souls advanced to the brink of starvation in July (the latest reporting month.) Of course, since we were already at a record level, this tiny addition breaks the record again.
Now, you might be wondering: If the economy is creating jobs, why do the food-stamp rolls keep rising? And there are two big reasons:
Reason #1 – Mass immigration – We are not creating enough jobs to keep up with one million legal immigrants per year, in addition to regular population growth.
Reason #2 – Bad Jobs – A large percentage of newly-created jobs are low-paid, and many newly-hired people still qualify for food stamps. From HuffPo:
“Three-fifths of all jobs lost during the recession paid middle-income wages, while roughly three-fifths of new jobs created during the economic recovery pay low wages…”
Laid off as middle-class, hired back as working-class. The planned liquidation of the middle class is right on schedule.
See my updated food-stamp charts.