FSN: Why You Can’t Trust the American Poverty Statistics
Be prepared for the next great transfer of wealth. Buy physical silver and storable food.
by Tim Worstall
AdamSmith.org
A nice little chart here at Cato showing how spending on food stamps has risen over the past decade.
[...]
We can see that expenditure on this anti-poverty programme has risen considerably over 12 years. In fact, if we assume away inflation and GDP growth (not quite right but close enough in this past 12 years, especially with respect to food prices) then expenditure on this programme has risen from 0.12% of US GDP to 0.56% of GDP. Call it, allowing for the uncertainty over the GDP and inflation numbers, a fourfold increase in real terms.
Now, I think it should be obvious to everyone that giving poor people a means to purchase food means that poor people are less poor. We would also assume that some who were poor before this distribution are not poor after it.
Continue Reading at AdamSmith.org…
2012-09-10 00:19:32
Source: http://silveristhenew.com/2012/09/09/why-you-cant-trust-the-american-poverty-statistics/
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