Saturday, February 13, 2010

The Status of the Economic Crisis in NYC

While Lloyd Blankfein continues to do "God's work," things are not so fine in his city. WNYC radio reports:
The Mayor's Management Report shows evidence of the down economy. More people are homeless, on welfare, and getting food stamps.

The report provides a snapshot of city services between July and October of 2009. It shows a 25 percent increase in family homelessness and a 7 percent increase in the number of homeless single adults compared to the same period in the prior year.

At the same time, the number of households on cash assistance increased 5 percent to about 355,000. The city blames this on the struggling economy, fewer entry level jobs, and increased requests for one-time assistance. Use of food stamps went up about 22 percent. Among people not receiving welfare, the number of people on food stamps went up 38 percent, a record high.

The city says that's likely because of a push to make food stamps more accessible.

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