Participation in Federal Food Stamp Program on the Rise

Mar. 05, 2010 5:12 AM ET3 Comments
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Sold At The Top
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As a logical consequence of the prolonged economic downturn it appears that participation in the federal food stamp program is on the rise.

In fact, household participation has been climbing so steadily that it has far surpassed the last peak set as a result of the immediate fallout following hurricane Katrina.

The latest data released by the Department of Agriculture shows that, on a year-over-year basis, household participation has increased 25.22% while individual participation, as a ratio of the overall population, has increased 21.64% over the same period.

The December results confirm that participation is continuing to climb dramatically, likely as a result of the recent jump in total unemployment, driving the nominal benefit costs up an astounding 43.73% on a year-over-year basis to $5,244,527,739 for the month.

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Sold At The Top profile picture
15.74K Followers
“Sold At TheTop” is the snarky pseudonym for the organic blogger that maintains the reasonably popular blog PaperEconomy (www.papereconomy.com). “Sold”, as he prefers to be called is not a professional economist, analyst or stock trader and has neither been trained in finance nor statistics. What Sold offers is a dedicated and serious passion for macroeconomic analysis and further, for the creation of striking, some say even artistic, visualizations of macroeconomic data. Though not a “perma-bear” Sold is very bearish about the current state and future of the American economy. Sold is NOT A PESSIMIST by nature but a true skeptic and a realist that prefers solid and sustained evidence of fundamental economic recovery to “Goldilocks”, “Green Shoots”, “Mustard Seeds” and wholesale speculation. Further, Sold believes that the evidence for rational and efficient markets as well as collective wisdom is scant. In his spare time Sold works as an independent software consultant spewing out cutting edge code like he’s spraying silly string.

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