Personal bankruptcies skyrocket 9% in October

How about cutting unemployment benefits back to the original maximum of 13 weeks?

Milton Friedman wrote "Free to Choose" years ago but it is still a good read. In the book he interviewed a bunch of people on unemplyment and asked this simple question, "If your benefits ended tomorrow what would you do?" The overwheming majority answered that they would find some kind of job somewhere.

Unfortunately a lot of folks think unemployment checks give them the option to be picky about what they do to earn money. While they are pretending to get work in their field they often work under the table which allows them to net more than they did when they worked. So they don't kill themselves looking for a job until the last check comes, thereby cheating all the rest of us.

Welcome to socialism, America.

Harsh al.

The economy is shedding jobs, so I'm inclined to think that "find(ing) some kind of job somewhere" isn't as easy as you make it sound.

Also I don't see that stopping unemployment benefits, and thus dropping some people's income to zero, will benefit anyone. Even the bankruptcy lawyers need their fees up-front.

So tell me Al, are you hiring?

Bankruptcies will hurt the banks but the people who had to file will be out there spending again but this time with cash and not credit cards. The main street stores will definately benefit.

I'd say we should get ready for round two of this recession. Except I'm guessing this part might take quite some time to over come.

Yep I have an idea for putting people back to work. How about close our trade border to cheap imports and illegal workers. Bring back manufacturing to his country. Stop the wars in all these freaking countries and invest that money in hiring more teacher’s, police and fire fighters. How about lowering everyone’s taxes by 25% and government stop pizzing away tax money to bankers who are not giving out small business loans but who are just hording the money. And stop giving us lip service and pass some freaking bills that the people want that creates and protect our jobs in this country.

Medical bills are still the #1 cause of bankrupcy behind unemployment.

You can have great insurance but still be forced into bankrupcy becuase of the insanity of medical billing. Go to the ER for a day and even with a 10% copay you could still owe over $5000.

The hosiptal may have been paid over $40,000 from the insurance company for a case of heartburn you thought was a heart attack. But still the greedy scum want that extra $5000 from you. They won't stop until they get it.

Hospitals believe they are entitled to get $120 for a single Tylenol pill, $1300 a day for a room, $30,000 to deliver a baby.

Nothing will change until hospitals are required to justify thier costs. Right now every person that walks through the door is a blank check.

Yes, it is hard (but not impossible) to find work these days. My point is that many people on unemployment don't try very hard to find a job until they realize there is no more free cash coming. It's just a matter of human nature.