The Debt Clock continues to increase in size and as it does more and more people are facing a financial crisis in their own lives.
Rising food and energy prices are making it more different for people to make ends meet and there is no immediate relief in sight.
The article below was in the Houston Chronicle on April 19, 2011.
Food And Energy Prices Are Driving Millions More Into Hunger
Copyright 2011, HOUSTON CHRONICLE - April 19, 2011, 7:59PM
Courtesy of a website called USDebtClock.org, Americans can do something scary: check out the size of the nation’s debt in real time, 24/7. The site should be rated G — for gut-wrenching. The World Bank has a similar real-time device on its website. It measures another, more personal kind of pain — the staggering number of the world’s people who go to bed hungry each night. This calculator doesn’t spin as fast as the debt clock, thank heavens, but it does turn over at an alarming rate. It’s closing in on 1 billion hungry and climbing fast.
We’d suggest an R rating for this website — for reprehensible.
The world’s hunger problem is likely to get much worse before it gets better, for two interrelated reasons — soaring food and energy costs.
Polls show that American consumers are starting to notice this pinch at the grocery store, although probably not as much as we do the escalating pain at the gas pump. Certainly, the two add up to a significant double whammy to pocketbooks. But our pain does not approach that endured by the billion or so people trying to survive at the very bottom of the global economy.
According to World Bank President Robert Zoellick, food prices globally have risen an eyebrow-raising 36 percent in just the past year. Since last June, according to World Bank figures, some 44 million people have been pushed into extreme poverty, defined by the Bank as a per capita income of $1.25 per day. A huge number of those affected are children.
A further 10 percent spike in food prices would bring an estimated 10 million more to that most needy status.
Zoellick argues, correctly we think, that this crisis deserves priority attention by the rest of the world. One major reason why is that food price spikes are largely driven by events well beyond the control of the humble folks who live their lives on the edge of survival.
Supply interruptions for oil produced in the Middle East have driven up transportation costs, a key factor in the global food chain. And a second energy-driven reason has done its harm as well. One of the large reasons that fuel prices are soaring is that corn is being diverted for use as energy — ethanol.
Shouldn’t we be looking at ethanol subsidies in terms of the hungry mouths they create as well as the taxpayer dollars they cost?
Matters are quickly reaching a point where failure to act in changing this politically driven strategy is becoming morally reprehensible.
Read more: http://www.chron.com/disp/story.mpl/editorial/7529002.html#ixzz1SQgFQDXR
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