Huffpost Business

Food Stamps Hit Record High In June 2012

Posted: Updated:

A record 46.7 million Americans -- or roughly one in five adults -- used food stamps in June, the U.S. Department of Agriculture (USDA) recently reported.

Food stamp use has spiked 51 percent since October 2008, when the economy was in free fall. The number of Americans now using food stamps is roughly the same as the number of Americans living in poverty.

Republican vice presidential nominee Paul Ryan has proposed slashing food stamp spending and turning food stamps into a block grant program, as Republican leaders have blamed President Obama for the record rise in food stamp spending.

Food stamp benefits cost a record $71.81 billion in the 2011 fiscal year, up 43 percent from two years before, according to the USDA. (To put things in perspective, that's roughly one-tenth of federal defense spending in 2011.)

Obama at least can take credit for overseeing slower growth in food stamp use, which spiked 23 percent during his first year in office, according to the USDA. In contrast, between June of last year and June of this year, food stamp use grew only 3 percent.

Even with food stamps, many Americans are struggling to put food on the table. Nearly one in five Americans did not have enough money to pay for food some time in the past year, according to Gallup.

Some economists point to spending on food stamps as an effective way to jumpstart the economy, since every dollar spent on food stamps leads to $1.73 circulated through the economy, according to Mark Zandi, chief economist of Moody's Analytics.

(Hat tip: Bloomberg.)

Also on The Huffington Post

Close
Best Paying Jobs Of The Future
of
Share
Tweet
Advertisement
Share this
close
Current Slide

Suggest a correction

Around the Web

Access Florida - Department of Children and Families - MyFlorida.com

Food Stamps - Social Security Publications

Supplemental Nutrition Assistance Program - Wikipedia, the free ...

CalFresh Home

Missouri Food Stamps Information

Food Stamps - Oregon.gov

Food Stamps - State of Indiana

HRA - Food Stamps & Food Emergency Programs

SNAP | OTDA

Tennessee Department of Human Services

Food-Stamp Use Climbs to Record, Reviving Campaign Issue ...

Record 46 Million Americans on Food Stamps - Yahoo! Finance

Record US Food Stamp Use May Give Republicans An Opening ...

SNAP/Food Stamp Participation « Food Research & Action Center

USDA: Americans receiving food stamps hits record 46.7 mln people ...