NEW YORK — Food stamps are the symbol of poverty in the US. In the era of the credit crunch, a record 28 million Americans are now relying on them to survive – a sure sign the world’s richest country faces economic crisis We knew things were bad on Wall Street, but on Main Street it may be worse. Startling official statistics show that as a new economic recession stalks the United States, a record number of Americans will shortly be depending on food stamps just to feed themselves and their families. Dismal projections by the Congressional Budget Office in Washington suggest that in the fiscal year starting in October, 28 million people in the US will be using government food stamps to buy essential groceries, the highest level since the food assistance programme was introduced in the 1960s. The increase – from 26.5 million in 2007 – is due partly to recent efforts to increase public awareness of the programme and also a switch from paper coupons to electronic debit cards. But above all it is the pressures being exerted on ordinary Americans by an economy that is suddenly beset by troubles. Housing foreclosures, accelerating jobs […]
Saturday, March 1st, 2008
USA 2008: The Great Depression
Author: DAVID USBORNE
Source: The Independent (U.K.)
Publication Date: Tuesday, 1 April 2008
Link: USA 2008: The Great Depression
Source: The Independent (U.K.)
Publication Date: Tuesday, 1 April 2008
Link: USA 2008: The Great Depression
Stephan: This is what we are beginning to look like overseas.