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Why the Tea Party and the GOP can get away with it
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Partner cracklover


Oct 2, 2013, 2:10 PM
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Why the Tea Party and the GOP can get away with it
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So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO


Kartessa


Oct 6, 2013, 7:06 PM
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Re: [cracklover] Why the Tea Party and the GOP can get away with it [In reply to]
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cracklover wrote:
So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO

Try and figure out how many of those 15% had to file due to unforeseen job losses, mortgage issues, or my personal favourite: Healthcare costs. It's amazing how quickly those costs add up for people who don't have access to affordable insurance.


Partner cracklover


Oct 7, 2013, 8:43 AM
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Re: [Kartessa] Why the Tea Party and the GOP can get away with it [In reply to]
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Kartessa wrote:
cracklover wrote:
So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO

Try and figure out how many of those 15% had to file due to unforeseen job losses, mortgage issues, or my personal favourite: Healthcare costs. It's amazing how quickly those costs add up for people who don't have access to affordable insurance.

I dunno, but I'd guess 90% or more. What's your point?

GO


lena_chita
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Oct 7, 2013, 10:17 AM
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Re: [cracklover] Why the Tea Party and the GOP can get away with it [In reply to]
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cracklover wrote:
Kartessa wrote:
cracklover wrote:
So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO

Try and figure out how many of those 15% had to file due to unforeseen job losses, mortgage issues, or my personal favourite: Healthcare costs. It's amazing how quickly those costs add up for people who don't have access to affordable insurance.

I dunno, but I'd guess 90% or more. What's your point?

GO

I think she is saying that very few people declared bankruptcy bc they bought a pleasure yacht and then decided to say, f%ck it, I am not paying for it.

IMO the concept of government defaulting on loans, an what that would mean for general public, is just too abstract and esoteric for the majority of the general public. The government is not owing money to THEM, they think, so if the Chinese don't get paid, or something, it is no skin off of their backs.


curt


Oct 7, 2013, 11:22 AM
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Re: [lena_chita] Why the Tea Party and the GOP can get away with it [In reply to]
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lena_chita wrote:
cracklover wrote:
Kartessa wrote:
cracklover wrote:
So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO

Try and figure out how many of those 15% had to file due to unforeseen job losses, mortgage issues, or my personal favourite: Healthcare costs. It's amazing how quickly those costs add up for people who don't have access to affordable insurance.

I dunno, but I'd guess 90% or more. What's your point?

GO

I think she is saying that very few people declared bankruptcy bc they bought a pleasure yacht and then decided to say, f%ck it, I am not paying for it.

IMO the concept of government defaulting on loans, an what that would mean for general public, is just too abstract and esoteric for the majority of the general public. The government is not owing money to THEM, they think, so if the Chinese don't get paid, or something, it is no skin off of their backs.

Well, back to the original point: I'm pretty sure the reason the Tea Party can get away with this is because they are mostly from heavily gerrymandered districts in which they have overwhelming support. In other words, no matter what they do, their crazy constituents will reelect them again. In fact, in their districts, they may even become MORE popular for pulling this shit.

Paradoxically, it's the more reasonable Republicans who will likely suffer from these shenanigans.

Curt


Partner happiegrrrl


Oct 10, 2013, 12:22 PM
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Re: [curt] Why the Tea Party and the GOP can get away with it [In reply to]
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Not a big news follower but heard Congress has a 5% Approval Rating on one survey recently....

Let's hope today's talks between the President and Republicans can help move through this mess.

I don't think this has anything whatsoever to do with worry over the consequences of default. It is crazy-azz Tea Party leaders whose agenda is to damage the two-party domination in the US. Fortunately, although not for them, they seem to not be as good at actually taking action as they are at blowing their mouths off.


USnavy


Oct 11, 2013, 2:54 AM
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Re: [cracklover] Why the Tea Party and the GOP can get away with it [In reply to]
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cracklover wrote:
Kartessa wrote:
cracklover wrote:
So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO

Try and figure out how many of those 15% had to file due to unforeseen job losses, mortgage issues, or my personal favourite: Healthcare costs. It's amazing how quickly those costs add up for people who don't have access to affordable insurance.

I dunno, but I'd guess 90% or more. What's your point?

GO
As others have expressed, few people file for bankruptcy for the reasons you implied. The vast majority of bankruptcy filings come as a result of medical expenses, and of that portion, the majority of them had health insurance. Of those who dident have health insurance or dident file for bankruptcy as a result of medical problems, the remaining majority file for bankruptcy directly as a result of loosing their job. It's the extreme minority that file for bankruptcy as a result of careless spending.


(This post was edited by USnavy on Oct 11, 2013, 9:19 PM)


Kartessa


Oct 15, 2013, 10:54 AM
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Re: [curt] Why the Tea Party and the GOP can get away with it [In reply to]
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Aren't I lucky to be studying this shit as it goes down rather than in the workforce.


Partner rrrADAM


Oct 17, 2013, 12:29 PM
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Re: [USnavy] Why the Tea Party and the GOP can get away with it [In reply to]
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USnavy wrote:
cracklover wrote:
Kartessa wrote:
cracklover wrote:
So here's an interesting statistic. Roughly 15% of American households have filed for bankruptcy. That's pretty insane. That says to me that as Americans, the thought of just not paying our bills and saying "fuck it, I know I bought it, but I'm not going to pay for it" is simply not such a foreign concept.

GO

Try and figure out how many of those 15% had to file due to unforeseen job losses, mortgage issues, or my personal favourite: Healthcare costs. It's amazing how quickly those costs add up for people who don't have access to affordable insurance.

I dunno, but I'd guess 90% or more. What's your point?

GO
As others have expressed, few people file for bankruptcy for the reasons you implied. The vast majority of bankruptcy filings come as a result of medical expenses, and of that portion, the majority of them had health insurance. Of those who dident have health insurance or dident file for bankruptcy as a result of medical problems, the remaining majority file for bankruptcy directly as a result of loosing their job. It's the extreme minority that file for bankruptcy as a result of careless spending.

See bold above, and please provide where you get your data... Or, is this your "gut feeling"? As I don't think with my gut.

From my experiences in Southern California, Las Vegas, NV, and now North Carolina... The bulk of the bankruptcies and people walking away from their mortgages are a result of 1) job loss, 2) their house being worth well less than what they paid for it, and they purposely choose to walk away from it, and 3) people using the equity in their house like an ATM and refinancing on to pull out the cash, buy cars and boats, and then being upside down when the housing bubble burst... I personally know quite a few who did option 3.

I do not discount the fact that medical expenses for one's self, or for a family member, can lead to this... Many of you may remember Diego, and his medical costs went over the $1 million mark his dad's insurance covered (Pre Affordable Healthcare Act, as now there is no limit), and they almost lost their house caring for him before he died. But I have not seen it to be the "vast majority".

Point... Both are due to poor financial choices. i.e. living beyond their means by buying too much house


(This post was edited by rrrADAM on Oct 17, 2013, 12:31 PM)


Partner rrrADAM


Oct 23, 2013, 6:17 AM
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Re: [rrrADAM] Why the Tea Party and the GOP can get away with it [In reply to]
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...See bold above, and please provide where you get your data... Or, is this your "gut feeling"? As I don't think with my gut.

Didn't think so.


Partner happiegrrrl


Oct 23, 2013, 9:46 AM
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Re: [rrrADAM] Why the Tea Party and the GOP can get away with it [In reply to]
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Bankruptcies resulting from unpaid medical bills will affect nearly 2 million people this year—making health care the No. 1 cause of such filings, and outpacing bankruptcies due to credit-card bills or unpaid mortgages, according to new data. And even having health insurance doesn't buffer consumers against financial hardship.

The findings are from NerdWallet Health, a division of the price-comparison website. It analyzed data from the U.S. Census, Centers for Disease Control, the federal court system and the Commonwealth Fund, a private foundation that promotes access, quality and efficiency in the health-care system.

http://www.cnbc.com/id/100840148


gunkiemike


Oct 31, 2013, 2:11 PM
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Re: [happiegrrrl] Why the Tea Party and the GOP can get away with it [In reply to]
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happiegrrrl wrote:
In reply to:
Bankruptcies resulting from unpaid medical bills will affect nearly 2 million people this year—making health care the No. 1 cause of such filings, and outpacing bankruptcies due to credit-card bills or unpaid mortgages, according to new data. And even having health insurance doesn't buffer consumers against financial hardship.

The findings are from NerdWallet Health, a division of the price-comparison website. It analyzed data from the U.S. Census, Centers for Disease Control, the federal court system and the Commonwealth Fund, a private foundation that promotes access, quality and efficiency in the health-care system.

http://www.cnbc.com/id/100840148

Of course, being the no. 1 cause among many does NOT mean it accounts for THE MAJORITY* i.e. >50%, of bankrupcies. Anymore than Honda Accord being the #1 selling car means the majority of cars on the road are Accords.

* Let along "vast majority".


Toast_in_the_Machine


Nov 6, 2013, 7:06 PM
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Re: [gunkiemike] Why the Tea Party and the GOP can get away with it [In reply to]
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gunkiemike wrote:
happiegrrrl wrote:
In reply to:
Bankruptcies resulting from unpaid medical bills will affect nearly 2 million people this year—making health care the No. 1 cause of such filings, and outpacing bankruptcies due to credit-card bills or unpaid mortgages, according to new data. And even having health insurance doesn't buffer consumers against financial hardship.

The findings are from NerdWallet Health, a division of the price-comparison website. It analyzed data from the U.S. Census, Centers for Disease Control, the federal court system and the Commonwealth Fund, a private foundation that promotes access, quality and efficiency in the health-care system.

http://www.cnbc.com/id/100840148

Of course, being the no. 1 cause among many does NOT mean it accounts for THE MAJORITY* i.e. >50%, of bankrupcies. Anymore than Honda Accord being the #1 selling car means the majority of cars on the road are Accords.

* Let along "vast majority".

You know, one of the most brilliant things about the interweb is this thing called, and stop me if you have heard of them, hyperlinks. See, these things let you get back to the sources. You can often take a headline and go back to the source data which is used to support the headline.

I this case, a few clicks gets you back to the 2009 Harvard study which gets to the real numbers
In reply to:
* 62.1 % of all bankruptcies have a medical cause


Partner rrrADAM


Nov 23, 2013, 7:28 PM
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Re: [happiegrrrl] Why the Tea Party and the GOP can get away with it [In reply to]
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Thanx.


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