After researching the U.S. Census Bureau's website, it became evident that there were only 86,429,000 full-time private sector employees in the United States. Everyone should be aware that this group is the foundation of the entire economic structure. This group's tax base is the engine that drives the entire system. After further investigation, it became even more intriguing to discover that the same group of individuals supports 147,802,000 non-veteran benefit recipients. This group included 49,901,000 Social Security recipients and 46,440,000 Medicare recipients. Add to that the 5,098,000 individuals receiving unemployment benefits and the remainder who receive welfare. This group is on the precipice of exploding due to the escalating retirement of baby boomers and the impending implementation of Obamacare.
As it becomes increasingly apparent that hyperinflation is imminent, most Americans will have a difficult time making ends meet. As a result of the new health care plan, many businesses are preparing for massive reductions. This number will continue to decrease as the number of individuals receiving benefits continues to rise. For those with their eyes open, it is obvious that many Americans will declare bankruptcy within the next few years. The government's plan to repair the economy through quantitative easing has failed and will only cause significant suffering for the middle class. During these uncertain times, individuals must remove their rose-colored lenses and accept this as the new norm. The era of house flipping and living like a rock celebrity has passed and will never return.
When a person lost their job in the past, it was rarely permanent. A person who loses their job in today's uncertain economic climate may need to contemplate a career change. The unemployment rate in the United States has been above 8% for the past three and a half years and does not appear to be improving. People who find themselves unemployed as a result of these conditions should contemplate the possibility of declaring bankruptcy if necessary. Too many individuals delay too long to declare bankruptcy, resulting in financial distress. Being proactive, particularly in this economy, will save you a great deal of future heartache and anxiety.
Many individuals regret not heeding the warnings and filing for bankruptcy sooner. Too frequently, individuals bury their heads in the sand, unaware that their unemployment is permanent, and deplete their savings before realizing that declaring bankruptcy was not such a bad notion. When circumstances deteriorate, individuals should rush to the office of a bankruptcy attorney to discover their options. Waiting until your unemployment runs out, usually is too late. Consider the amount of money spent on minimum payments over the course of several years. This could easily amount to thousands of dollars that would have been spent on a bankruptcy attorney and filing fees.
There is not much good financial news for anyone in the foreseeable future. Americans should be agile when it comes to making financial judgments as a result. Waiting around could result in the complete destruction of the family's assets if the warnings are ignored.""
" - https://www.affordablecebu.com/
