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Nearly 41.8 Million Americans on Food Stamps – Who’s Getting Rich?

Updated on January 26, 2014

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.

Comments

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  • MikeNV profile imageAUTHOR

    MikeNV 

    7 years ago from Henderson, NV

    Sir Slave you missed the entire point of the article. I get you're unemployed and you think that you need food stamps. The problem isn't that you need food stamps the problem is that the very people that have created the unemployment are now in Administering the food stamp program. Keeping you poor and unemployed is actually putting more money in their pockets. JP Morgan is an International Banking Cartel that profits from your misery! Think about that! The solution of courses to get the investment banks out of the American taxpayer's pocket. When we have a society that is entirely dependent on government programs we will have a society that has completely collapsed. Smart people understand that more people on food stamps and Government Programs will lead to a complete collapse due to the enormous amount of debt which cannot be repaid has been in the near by the banking elite.

    If you want to stop being a debt slave you must support Politicians who will abolish the fractional reserve banking system and the Federal Reserve.

  • profile image

    Sir slave 

    7 years ago

    when you hit hard times, then you you can talk to me about scams. sorry to see they did that(with regards to privatizing), but 41 million amercians is 20% of the population. the unemployment rate is like 16 - 18%.

    this country is in the worst shape since the 30's!!

    I think the poor will be needing their food stamps.

    and unlike past "recessions" this one features property values in the toilet!!

  • American Romance profile image

    American Romance 

    7 years ago from America

    This racket has been around too long! I have watched for years those pay for groceries with food stamps while the husband stands behind the wife and pays for beer and cigs with cash! I watched young people paying for chips and soda in a 7-11 one night all dressed up for a party! food stamps should by for those in serious need of FOOD! I want it to at least go back to staples only!

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