Reply #39: And in my area of NC, I just heard those coming off COBRA for health [View All]

[KoKo]

insurance after being "downsized" are now causing a back up for BlueCross and allowing BlueCross to jump payments because of the influx.

How many folks in the last two years used home equity loans just to replace the income they lost and try to keep up their mortgage and health care payments. Maybe not everyone is out there spending on things, but just to keep themselves in food and housing and pay medical bills.

Another interesting thing that isn't reported is that many of those laid off or "downsized" got severance packages and aren't eligible for "Federal or State Unemployment benefits." When that money runs out and they don't get a new job that won't be counted in the Government figures. There are many in the middle and upper management category that fall into that group.