bankruptcies

Courts today are seeing an epidemic of bankruptcies among older adults, a direct result of eight years of Republican profligacy and disdain for the middle class. Richard Burr and Virginia Foxx think "the cure" is to keep on doing what George Bush did.

The average age for filing bankruptcy has increased, and the rate of bankruptcy filings among those ages sixty-five and older has more than doubled since 1991. The implications of a sharp rise in the proportion of older Americans in bankruptcy are particularly problematic because, unlike their younger counterparts, older Americans typically have fewer years left in the full-time workforce. Consequently, they will have a far more difficult time recovering from financial collapse.