The Coming Depression: More Than 45.8 Million Americans are on Food Stamps

Yes, beginning in May, the USDA reported that the number of Americans using food stamps has now shot to an all-time high of 45.8 million in May. That is up from 12% from a year ago, and 34% higher than two years. The program provides monthly benefits to low-income families and individuals, which they can use at stores that accept SNAP benefits. To qualify for food stamps, an individual's income can't exceed $1,174 a month, or $14,088 a year, an amount that is 130% of the national poverty level. The average food stamp benefit was $133.80 per person, and $283.65 per household in May. The highest concentration of food stamp users were in California, Florida, New York and Texas, where more than 3 million residents in each state received food stamps in May, according to CNN Money. No one ever talks about the 'Poverty Water Line'. Above the PWL, you accumulate wealth faster than you spend it. Below the PWL, you sink deeper and deeper into extreme poverty. Often, it takes two incomes, no kids, and a helping hand from wealthy parents to get above the PWL. Young couples need to budget, save to extremes and plan their future pending very carefully. After about ten years, a newlywed couple will find their PWL, if they have been successful saver/planners. They see their net assets growing and their debt being reduced and managed. Once this personal waterline has been found, they will be among the group where the rich get richer, and the poor get poorer. Increasing assets by gambling in the market or in shady ventures are not options for most. It's called "inequality". The wealth and income inequality gap has skyrocketed to unprecedented levels. A massive new underclass has been created and continues to grow. All this is is a symptom of a massive level of political corruption, where lobby money determines the middle class.