Saturday, August 6, 2011

Economy - #3142 - Food Stamp Use Rises to Record 45.8 Million - CNN Money

Nearly 15% of the U.S. population relied on food stamps in May, according to the United States Department of Agriculture.  The number of Americans using the government's Supplemental Nutrition Assistance Program (SNAP) -- more commonly referred to as food stamps -- shot to an all-time high of 45.8 million in May, the USDA reported. That's up 12% from a year ago, and 34% higher than two years ago. The program provides monthly benefits to low-income individuals and families, 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.  Read more.........

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