Saturday, November 24, 2012
An analysis by Breitbart News has found that the number of individuals on food stamps now exceeds the combined populations of 24 states and the District of Columbia.
In November, the U.S. Department of Agriculture reported that a record 47,102,780individuals receive food stamps.
According to US. Census Bureau data, that figure exceeds the combined populations of: Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.
Since January 2009, the number of individuals on food stamps has skyrocketed from 31.9 million to the current record high 47.1 million. By comparison, in 1969 just 2.8 millionAmericans received food stamps.
Also benefiting from the rapid rise in food stamps are companies like JP Morgan who administer Electronic Benefit Transfer (EBT) cards. A recent report by the Government Accountability Institute found that since 2004, JP Morgan's 24 state EBT contracts have totaled at least $560,492,596.02.
Last year, the food stamp program (officially known as the Supplemental Nutrition Assistance Program or SNAP) cost taxpayers $72 billion, more than double the $30 billion spent four years ago.
The meteoric rise in the number of individuals receiving food stamps has spawned a thriving illegal online market for those seeking to turn their benefits into cash.
Today, one out of every seven Americans now receives food stamps.