Submitted by CARPE DIEM

CBS Evening News: More Americans Turning To Food Stamps: Amid Economic Slowdown, Record 28 Million In U.S. Expected To Use Program In Coming Year

NY Times: As Jobs Vanish and Prices Rise, Food Stamp Use Nears Record

The Independent: USA 2008, The Great Depression. Food stamps are the symbol of poverty in the US. Dismal projections by the CBO suggest that by fiscal year 2008, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance program was introduced in the 1960s - and a sure sign the world’s richest country faces economic crisis.

Comment: There’s one big, fundamental problem for these “food stamp hysteria” stories about record food stamp use of 28 million by 2009 (fiscal year 2008): The U.S. population will be a record level of 306.272 million in 2009, and food stamp use by 28 million Americans will be about 9.14% of the population, just slightly higher than the 2005-2007 average of 8.78% (see chart above using data from USDA and the Census Bureau). And the 9.14% projected food stamp usage as a percent of population in 2008-2009, will be lower than food stamp usage in 1980, 1981, 1982, 1983; and 1992, 1993, 1994, 1995 and 1996.

Bottom Line: We’re nowhere near a record for food stamp use, and we’re nowhere the Great Depression!
(Inspired by this post on Captain Capitalism)

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