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Under Biden, Bankruptcies Are Rising For
The First Time In Over 13 Years. Here’s Why

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Posted By: Imright, 9/29/2023 10:40:44 AM

Bankruptcies are rising for the first time in years as more Americans feel the pressure of declining economic conditions without the reprieve of President Joe Biden’s COVID-19 pandemic-era aid programs. Americans filed more than 39,000 personal bankruptcy cases in August 2023, up 18% year-over-year, with bankruptcies beginning to spike after reaching record lows in 2021 and 2022, with the number of filings rising for all chapters for the first time year-over-year since 2010, according to data from the U.S. Courts. The number of bankruptcies is rising as Americans are increasingly burdened by high interest rates and falling real wages,

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Reply 1 - Posted by: snowoutlaw 9/29/2023 11:14:01 AM (No. 1565610)
3 years of stopping payments on student loans, rent payments etc bankruptcies would be expected to drop. Now that people need to cover all those missed as well as current payments their bankruptcies are increasing. Either Democrats are too stupid not to know this would happen are they are evil and wanted this to happen. Is it both or are Democrats just evil?
28 people like this.

Reply 2 - Posted by: wilarrbie 9/29/2023 11:22:19 AM (No. 1565614)
Damn these unforseen circumstances.
17 people like this.

Reply 3 - Posted by: zephyrgirl 9/29/2023 12:49:06 PM (No. 1565671)
Americans have been binging on debt for years. That's why Dave Ramsey is making a killing showing people how to pay off their debts and go debt free.
18 people like this.

Reply 4 - Posted by: dbdiva 9/29/2023 2:12:11 PM (No. 1565700)
Another goal that Obama's 3rd term has achieved bringing us closer to the agenda of the WEF. But, not to worry, we can count on KJP extolling how wonderful Obama's (I mean biden's) economic policy has been for the country). Just ignore her stuttering.
19 people like this.

Reply 5 - Posted by: zoidberg 9/29/2023 2:42:09 PM (No. 1565714)
And the Democrats are claiming "Bidenomics" is a good thing, trying to gaslight the American public.
19 people like this.

Reply 6 - Posted by: valinva 9/29/2023 4:25:41 PM (No. 1565761)
I have known this was going to happen for 9 months and I suspect so did the politicians. When inflation and higher energy costs began to affect consumers, instead of them tightening their belts and cutting back on their spending, consumers began to use up their savings and put everything on credit cards that they could not pay off at the end of the month. It was only a matter of time until they ran out of savings and hit their limits as to what they can pay off. The next logical step is defaulting on their debts and finally cutting back on spending. It's not going to be pretty in six months when it all hits the fan.
12 people like this.

Reply 7 - Posted by: FL_Absentee_Voter 9/29/2023 5:48:45 PM (No. 1565806)
My credit union just increased the rate on its Visa card to 17.99% while the share savings rate remains at 0.25%. ???
13 people like this.

Reply 8 - Posted by: Strike3 9/30/2023 9:20:37 AM (No. 1566100)
Take more money from working taxpayers and landlords, hand it to those who have partied in their parents' basements for three years while ignoring their loan payments and hundreds of "Help Wanted" signs in their neighborhoods because Joe takes care of his democrats. How could that possibly not work? Our worst suspicions will be realized when the taxpayers are again held responsible for the bankruptcies and credit card debt along with financing the illegal alien invasion, all done in the hopes of more democrat voters.
12 people like this.

Reply 9 - Posted by: Zigrid 9/30/2023 10:47:43 AM (No. 1566169)
So biden promised all these give aways so he could garner votes...and then the fool couldn't deliver...well..that's just his speed...not being able to deliver...wonder how Jill is taking his in efficiency to deliver...pardon the pun...
6 people like this.

Reply 10 - Posted by: Krause 9/30/2023 3:32:06 PM (No. 1566341)
Everything is bad ‘under Biden.’
3 people like this.

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