Bankruptcy

Must Read: James Scurlock on the Death-Squeezing Of the Middle Class

From Alternet via Carolyn Baker comes a must-read article by James Scurlock, of “Maxed Out” fame. James writes about the so-called “new economy” and how it’s based on the “cheering for failure” mentality of the credit industry. Much to the chagrin of that industry’s paid lobby, it looks (finally!) as if Congress is finally opening its collective eyes to the real truth about debt in America - namely, that it isn’t “Prada shoes” that are driving people into bankruptcy but, indeed, the basics of daily living, in a life squeezed nearly to failure by the outpacing of income by the cost of those necessities.

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