US to spend 27 pct more on food stamps in ’09

From reuters today:

Some 31 million Americans receive food stamps at latest count, down slightly from the record 31.6 million in September 2008. The average benefit was $119 a month per person and $266 per household.

“The cost really has gone up because more people are out of work,” said Senate Agriculture Committee chairman Tom Harkin, Iowa Democrat, whose panel oversees food stamps.

The U.S. unemployment was 6.7 percent at latest count. Analysts expect the December rate, to be released on Friday, to hit 7 percent.

“The faltering economy has increased outlays for unemployment compensation and the Supplemental Nutrition Assistance Program,” CBO said, using the new, formal name for food stamps.

It forecast outlays would rise to $50 billion for food stamps this year from $39 billion last year, due to higher enrollment and rising food prices. Jobless benefits would total $79 billion, up from $43 billion.

Advertisements

U.S. economic depression of 2008 update: manufacturing orders dropped to lowest levels since 1948.

U.S. depression update, Jan. 2, 2008, found here, at Bloomberg.com:

Jan. 2 (Bloomberg) — The decline in U.S. manufacturing deepened in December as demand for such products as cars, appliances and furniture reached the lowest level since at least 1948, signaling further cutbacks in factory jobs and production this year.

The Institute for Supply Management’s factory index fell to 32.4, below economists’ forecasts and the lowest level since 1980, from 36.2 the prior month. Readings less than 50 signal contraction. The group’s new-orders measure reached the lowest level on record and prices slid the most since 1949.

“Every component suggests that the weakness is going to carry over into 2009,” Mark Vitner, a senior economist at Wachovia Corp. in Charlotte, North Carolina, said in a Bloomberg Television interview. “There’s just not a whole lot of new business coming in,” and companies will have a “painful adjustment” as consumers shun spending.

Today’s figures underscore that, with private demand collapsing, manufacturers’ best hope for new business this year may be President-elect Barack Obama’s plans for an unprecedented stimulus package. Obama has pledged an investment program in roads, schools and the U.S. energy network akin to the 1950s- era interstate highway construction boom….”

Matthew 25

Matthew 25:

“41 Then he will say to those on his left, ‘Depart from me, you accursed, into the eternal fire prepared for the devil and his angels. 42 For I was hungry and you gave me no food, I was thirsty and you gave me no drink, 43 a stranger and you gave me no welcome, naked and you gave me no clothing, ill and in prison, and you did not care for me.’ 44 Then they will answer and say, ‘Lord, when did we see you hungry or thirsty or a stranger or naked or ill or in prison, and not minister to your needs?’ 45 He will answer them, ‘Amen, I say to you, what you did not do for one of these least ones, you did not do for me.'”