OBAMAnomics: Poverty under Obama rises to Alarming Level

As Americans celebrate Thanksgiving, it is important to remember that despite establishment-media reporting of an Obama “economic recovery,” the number of Americans on welfare today is higher than the number that have full-time jobs, says Michael Snyder, creator of TheEconomicCollapseBlog.com. 

Snyder outlined the economic reality in a recent editorial that points out the fragility of the U.S. economy.

“The gap between the wealthy and the poor is at a level that America has never seen before, and this is beginning to create a ‘Robin Hood mentality’ that could cause a tremendous amount of social chaos in the years ahead,” Snyder writes. 

“Anger at the ‘haves’ in America continues to rise at a very alarming pace, and the ‘have nots’ are becoming increasingly desperate. At some point all of this anger is going to boil over, and you won’t want to be anywhere around major population centers when that happens.”

Documentation for Snyder’s claim that there are more Americans on welfare than the number of Americans working full-time comes from Census Bureau statistics that show there were 108.6 million people in the U.S. in the fourth quarter of 2011 who were recipients of one or more means-tested government benefit programs. That’s compared to the 101.7 million people who worked full-time year round in 2011, including both private sector and government workers. 

The U.S. Census Bureau further reports nearly half (49.2 percent) of Americans are receiving benefits from at least one government program, with 84.5 million Americans, 26.9 percent of the population, living in households where one or more persons received Medicaid benefits.

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