Bankruptcy Knoxville

As a follow-up to our last post, the New York Times discusses in this article how medical bankruptcies are rising dramatically all across the nation. Statistics are difficult to find that accurately portray the rapidly growing problem, but given the general state of the economy and continually rising medical costs, it’s not difficult to see why it’s happening.

The Times uses this trend as an argument for the Obama medical reform, although the rationale is quite a stretch of logic. Just because a group of people is trying to fix a problem doesn’t mean their proposed solution will succeed in fixing the problem. In other words, there’s no question reform is needed, it’s just what kind of reform will result in reasonable medical costs and economic prosperity. Says the Times:

In the campaign to broaden support for the overhaul of American health care, few arguments have packed as much rhetorical punch as the there-but-for-the-grace-of-God notion that average families, through no fault of their own, are going bankrupt because of medical debt.

President Obama, in addressing a joint session of Congress in September, called on lawmakers to protect those “who live every day just one accident or illness away from bankruptcy.” He added: “These are not primarily people on welfare. These are middle-class Americans.”

The Senate majority leader, Harry Reid of Nevada, made a similar case on Saturday in a floor speech calling for passage of a measure to open debate on his chamber’s health care bill.

The legislation moving through Congress would attack the problem in numerous ways.

The Times is right that there is a growing problem with medical bankruptcies, but whether the solution they champion is the answer is far from a foregone conclusion. A vigorous national debate is one major step in the right direction, however.

Are you facing mounting medical debts? You’re not alone. Call the bankruptcy lawyer Knoxville trusts. Set up a free consultation today to meet with an experienced bankruptcy lawyer!