The Economic Stimulus Bill Endangers Our Country
There have been several news stories lately about people being scammed when they are looking for government grants. Although there are legitimate companies that charge for grant information, those companies are not new and have been around for a long time. Now that people are actually searching for them online, government bureaucrats are calling them scams.
There are no special Obama stimulus grants in the recent bill passed by the Democrats. Unfortunately, most people do not understand that this means that there is no money in the bill for individuals. Yes, some people will get a newly created job because of the bill, or will get help paying their mortgage, but no individual will get cash from the government.
America is in the midst of a catastrophic economic crunch. Government officials are continuing to run up the deficit without thought for the consequences. Many people voted for President Obama because they wanted a change in the way government functioned. However, few understand the extent of the trouble we are in. There has been change, but not the right kind.
For many, the US government is the biggest scam running. The stimulus bill allows the government to give away tax dollars without mandating that the individual taxpayer actually receive any benefit at all. Hopefully, people will realize that we can not continue to borrow against the future of our children. Unfortunately, the only way to make a difference is to vote the dishonest politicians out of office.
The problem lies in the fact that most people believe the government has access to unlimited funds, and have no true knowledge of how the economy really works. By continuing down the path we are following now, we will soon find out the spending more money is only multiplying our economy problems. Unfortunately, by the time most people figure this out, it will be too late to fix.
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2009 Bankrutpcy Filing Increases
In this period of increased unemployment rates and home foreclosures, personal bankruptcy rates continue to increase. Last year, it has been reported, that personal bankruptcies increased by over thirty percentage points. As more and more Americans face the financial realities brought on by our current economic situation, it is expected that bankruptcy filings will continue to increase.
Total bankruptcy filings in 2009 climbed to almost one and half million. This is more bankruptcy filings than the United States has seen since Congress revamped the bankruptcy law system in 2005. Those changes were designed with the purpose of making filings more difficult. The 2009 numbers were twice as high as the filings made two years ago.
Chapter 7 bankruptcy filings were particularly high. As of November, these filings were reported to have increased by just under 50%. Under Chapter 7 filings, debtors can liquidate assets to pay a portion of debt while eliminating some of the debt as well.
In addition to Chapter 7 increases, Chapter 13 filings are also on the rise. While Chapter 13 filings didn’t rise at the same rate as Chapter 7′s, they did increase by over 10%. These filings constitute less than 1/3 of the total filings.
Bankruptcy filing increases varied from state to state. For example, Arizona saw huge filing increases while South Carolina saw a very small increase. This demonstrates the different effect of legislation and economic factors unique to the individual states.
With the national unemployment rate on the rise, and the continually falling housing market, many individuals who were financially solvent are now making bankruptcy a realistic consideration. While there is a lot of information available to families considering bankruptcy, there is really no substitution for talking with an experienced bankruptcy lawyer about what are the best options for the particular situation. There are unique considerations to be made depending on the particular financial situation of the individual.
As bankruptcy filings continue to rise, it is become more common for Americans to know someone who has either filed or is considering filing for bankruptcy.
When you are facing creditor harassment, wage garnishment, or foreclosure, learning your options needs to be your first priority. People often feel helpless when they find themselves in financial situations like these. Get a free bankruptcy consultation fromBankruptcy Lawyer MA Matthew Desrochers. Debt issues are not something to take lightly, but it is not as scary as you might think.