- Politics and Social Issues
Nearly 41.8 Million Americans on Food Stamps – Who’s Getting Rich?
Social Engineering the Economic Collapse
That’s 1 in 8 Americans and 1 in 4 children. This is Socialism disguised as help. The proceeds of the program all flow though to the top… the very people who create the problem (Bankers) are offering a “Solution” to the problem they created… which in turn generates more profit for their scams! The Fractional Reserve Banking system supported fully by the Federal Reserve creates money out of nothing and a society of debt slaves which must serve the system in order to survive. The food stamp debit card is nothing more than created money… money loaned into existence. “Electronic Benefits Transfer” is just another Federal Government Sanctioned program that benefits the Banking Elite.
In fiscal year 2001, the U.S. Department of Agriculture (USDA) provided about $15.5 billion in food stamp benefits to a total of about 17.3 million recipients. – Report from GAO to Richard G. Lugar January 16,2002
So in less than a decade the number of Americans on Food stamps is now 2.5x higher.
Wall Street Investment Bank JP Morgan is cashing in on American Economic Misery.
JPMorgan Chase & Co. (NYSE: JPM) is a leading global financial services firm with assets of $2.2 trillion and operations in more than 60 countries. JPMorgan Chase & Co. serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients under its J.P. Morgan, Chase, and WaMu brands.
JP Morgan has contracted to provide food stamp debit cards in 26 U.S. states and the District of Columbia. JP Morgan is paid for each case that it handles, so that means that the more Americans that go on food stamps, the more profits JP Morgan makes.
The number of Americans receiving food stamps rose to a record high of 41.8 million in July after a 20-month climb, according to data released by the U.S. Department of Agriculture earlier this month.
40% of people receiving food stamps are working! Food stamps are now 100% electronics – debit cards. Walmart and even Costco are taking food stamps
According to the latest data released by the USDA, an additional 289,737 people were added to the food stamp program during October 2010, the first month of FY 2011. That is roughly a 14% increase in enrollment and costs of the program on a year-over-year basis. There are now a record 43,200,878 people and 20,183,148 households enrolled in the program which costs us almost $5.8 billion annually. At this rate, the food stamp program will cost taxpayers at least $70 billion for FY 2011, and will likely increase as enrollment in the program continues to skyrocket.
Apparently states have found that they can save millions of dollars by "outsourcing" the provision of these benefits to big financial firms like JP Morgan.
So what happens if you have a problem with your food stamp debit card?
Well, you call up a JP Morgan service center. When you do this, there is a very good chance that you are going to be helped by a JP Morgan call center employee in India.
How Much Money Can You Make and Still Get Food Stamps
The amount varies from State to State but here is a pretty typical example from the State of Louisiana.
Food stamp benefits are a significant supplement to qualifying families’ overall income and are available to all who qualify. To qualify for food stamps, household income cannot exceed 130% of the federal poverty line which is $2,389 a month for a family of four. A family of four at that level would qualify for $668 in food stamps monthly. A family of two (mother and child for example) with a monthly income of $1,579 would qualify for $367 in food stamps.