Golden age but for bankruptcy attorneys? Top Dem shares 'alarming' report about rising bankruptcies under Trump

[ck4829]

Despite President Donald Trump’s campaign pledge to address the cost-of-living crisis, personal bankruptcies have now reached their highest levels since 2019, according to a new analysis from the House Budget Committee, first shared exclusively with MS NOW.

Democratic Rep. Brendan Boyle of Pennsylvania, the committee’s ranking member, joined “The Weeknight” on Tuesday to break down how he believes the president’s economic policies have led to rising bankruptcy rates in 47 states.

Boyle explained that the “No. 1 reason” Trump carried Pennsylvania and other battleground states was because he recognized that Americans were dealing with rising costs, “and he said he was going to lower them.”

“Here we are, one year later, and they’re higher than ever, specifically because of his policy,” he said.

https://www.ms.now/news/rising-bankruptcy-report-trump-economy-cost-of-living

[Diamond_Dog]

1. A "Golden Age" for billionaires only.

[ck4829]

3. Pretty much, I imagine if you are in certain industries you are probably doing pretty well too

Particularly the "Get paid to break someone's leg over some debts" part of the economy.

[VMA131Marine]

2. I'm guessing medical bankruptcies and student debt bankruptcies.

You obviously can’t discharge student debt in a bankruptcy under most circumstances but if you can erase other debts it makes the student loans easier to pay off.

[ck4829]

4. Sounds about right.