The Campaign Spot

About Those Americans Going Bankrupt Every 30 Seconds . . .

Obama, last night: “For that same reason, we must also address the crushing cost of health care. This is a cost that now causes a bankruptcy in America every thirty seconds.” Nope. There were 1.1 million bankruptcies in America last year, which does come out to roughly one every thirty seconds, but the housing bubble bursting was a much bigger factor in last year’s total than health-care costs.

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