The unemployment benefits and/or food stamps for Americans
By Daniel at 20 June, 2009, 7:01 pm
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
According to the latest report a record 33.2 million people in the US, were receiving food stamps at the end of March 2009.
Add the 14.5 million unemployeed (official number) and you have a total of ~48 million Americans receiving unemployment benefits and/or food stamps.
That is 48 million out of 217 million adults (19 years and older) or 22.5% of the adult US population.
Isn’t 22% really a Depression level?
Now these calculations are based on the official numbes reported by BLS and the US Department of Agriculture.
Now the scary statistics:
Based on 20.5% unemployment rate (reported by SGS) we have 32 million unemployed. So the total (unemployed + food stamp recipients) will be over 65 million or 30% of the adult US population.
That is 5.2% higher than the record 24.7% during the Great Depression.
For the record, the Food Stamp program started in 1962 (Food Stamp Act of 1964.)
For the record, following are the Federal food stamp maximum monthly income limits (you do not qualify if you make above the limit)
Family Size - Max monthly net income:
1 person, less than $ 867
2 people, less than $ 1,167
3 people, less than $ 1,467
Any additional person (add + $300 to the limit)
Also, there are other asset limits, for example:
- You cannot have more than $2,000 in total family countable resources (including bank account balances).
- If the household has a vehicle, it would bring no more than $1,500 if sold.
Crit
--------------------------------------------------------------------------------------
--------------------------------------------------------------------------------------
Trackbacks & Pingbacks