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48 Comments
- TheTaoOfBill, on 11/09/2009, -7/+2760% of all bankruptcies are due to healthcare.
- NJank, on 11/09/2009, -0/+16Without RTFA, I thought those 60% relate to personal bankruptcies. As this article supposedly talks about Businesses filing bankruptcy, I would assume that had more to due with the frozen credit market and companies not being able to make payroll without buffer loans bridging the gap to irregular revenue streams.
- MeaghanOlson, on 11/09/2009, -3/+17They just reported the unemployment rate is at 10.2% --- and that's just people who've filed for unemployment. Don't forget about all the people who don't qualify or whose unemployment has expired. (Or all the people who've been laid off and are now working at places where they're making less money). We've got a long way to go...
- Batfishy, on 11/09/2009, -0/+8The unemployment rate isn't determined by UI benefit claims.
http://www.bls.gov/cps/cps_htgm.htm - nugx, on 11/09/2009, -2/+9You are absolutely right. Check out this supportive infographic:
http://www.revenueherald.com/health-care-and-filin ... - xNerdCorex, on 11/09/2009, -0/+6Bankruptcy builds perpetual motion on itself by forcing a lot of it's surrounding victims into bankruptcy. A very vicious cycle. It'll likely be awhile before jobs are on the rise again.
- RachelJTM, on 11/09/2009, -0/+6I was on the subway the other day and some woman was reading a book about filing for bankruptcy. I was shocked about how out in the open it is now, not that thats a bad thing. Whats bad is that is become such a normal thing.
- NJank, on 11/09/2009, -0/+5more specifically:
http://www.bls.gov/cps/cps_htgm.htm#where - InactiveUser, on 11/10/2009, -0/+4Can I hear a 3?
- MissDeFacto, on 11/09/2009, -0/+4Thanks for passing that on. Helps lay it out...
- Lonandubh, on 11/10/2009, -0/+3Y'know, i'd like to point out that in 1970, the largest single generation the US has seen was in their mid to early twenties, and in 2007 are in their 60s, and i would venture that a 60 year old's medical bills are going to be slightly higher than a 25 year old's.
- Barackalypse, on 11/10/2009, -2/+5So what do you suppose happens to businesses when you pass laws that make employees even more expensive, like perhaps requiring them to pay 72.5% of their employees health benefits (or face an 8% payroll tax) like Pelosi's health care bill does?
- Elranzer, on 11/10/2009, -0/+3Only Digg and Mint.com use the "word" infographic. Firefox's spell-check suggest it's not a real word (it isn't).
But this is Digg, where "your" is an acceptable substitute for "you're" so take it with a grain of salt. - numberneal, on 11/10/2009, -1/+4the issue with bankruptcy is stays on your report for 10 yrs, i think;
- Berkana, on 11/10/2009, -1/+3Forgive my nitpicking, but you mean "the lack of affordable healthcare", not "healthcare".
- thecoolestguy, on 11/10/2009, -1/+3---Health care costs have to be covered some way. However it is delivered, money for it comes from peoples earnings. ---
Yes, but market forces lead to prices coming down. When the government mandates everyone have insurance, that actually reduces market forces, because people who have insurance are not price conscious.
Just as an example, the only two fields of medicine that have seen their prices come down in the last decade are cosmetic and laser eye surgery, and they also happen to be the two fields of medicine least regulated/subsidized by government, and least covered by insurance.
2,000 pages of rules, subsidies and fines is not going to make the health care system more market-oriented and competitive. It won't reduce the cost, or improve the quality of health care.
Capish? - anderzole, on 11/10/2009, -0/+2sucks you can't file for bankruptcy on your student loans. Those bastards will garnish your wages for life!
- dnields, on 11/10/2009, -1/+3They have had pointless images added to them and have been renamed "infographics"... since that is the hottest buzz-word, catch-phrase fad on digg lately.
Pie chart, bar graph... that sounds soooo lame... we'll just call it an "infographic" and it's an instant win!!
/s - TheTaoOfBill, on 11/09/2009, -1/+3You might be right. But don't forget that healthcare costs are a large part of why corporate giants like GM cannot compete on a global scale.
- Barackalypse, on 11/10/2009, -0/+2These are business bankruptcies, you know, like GM, except without the Government saving them.
- X9001, on 11/10/2009, -1/+3What ever happened to bar graphs?
- robinthehood, on 11/10/2009, -0/+2And the majority of these lost jobs will be replaced with low-income entry level jobs like working at Home Depot or McDonalds... Not really the way for a parent(s) to raise a family. But of course, wall street is rebounding and stocks are going back up so the economy is repairing right?
Let's ignore the fact that our jobs are going overseas to India, China, Taiwan, Bangladesh, etc. Let's ignore the fact that what jobs we retain tend to be part-time menial service industry jobs. Let's ignore that the middle class has eroded (not is eroding. It has).
btw, this is a global issue. This is not a United States issue. We're having the same problem here in Canada. I'm not saying that Globalisation is evil, whether we like it or not it's how the world is going. The problem is how we're treating the people back home.
The companies, who's headquarters we house, are reaping profit after profit by firing us or putting us into low paying part-time and contract jobs where once we were full time well-paid employees.
The Average world citizen is getting shafted by profit margins. I woke up to this a long time ago, when is everyone else going to? - Lonandubh, on 11/10/2009, -0/+2@Bill: That's because the damn unions demand insane coverage for people who supervise robots.
- Kaegro, on 11/10/2009, -0/+2Hopefully with changes that are going on, we'll see those numbers going down in a year or two.
- smacksaw, on 11/10/2009, -0/+1I'd say you're both right. You more than he as this entire credit crunch has really tied our hands, but a lot of these people who would be otherwise stimulating the economy have all of their money (and our credit) tied up in overpriced homes. The medical bankruptcies are just ***** frosting on the ***** cake. Of course some houses were lost due to people not paying medical bills. It's all related.
- xwatermelon, on 11/10/2009, -0/+1no way!
- Berkana, on 11/18/2009, -0/+1@BerateBirthers:
If you can't afford a dime for healthcare, something is seriously messed up. No country has truly free healthcare; it has to be paid for somehow, whether by taxation or other means. - InactiveUser, on 11/10/2009, -0/+1Get out!
- rglarson13, on 11/10/2009, -1/+2Didn't you take high school econ? Health care isn't really one of those elastic demand things. You don't see people shopping around for the best bargain on their appendectomy. If you need medical care, chances are, you're going to get it, and worry about how much it costs later.
On the other hand, cosmetic and laser eye surgery are unnecessary elective procedures, so people can take the time to shop around. - thecoolestguy, on 11/10/2009, -3/+4Increasing taxes is just going to shift the cause of bankruptcies to other factors.
You can't make a patient better by drawing blood from his leg and pumping it into arm.
Redistribution of wealth doesn't help the economy. - emceenerney, on 11/10/2009, -1/+2And for my next infographic.. The number of infographics about bankruptcy, and the rate of bankruptcy! Oh wait that would just be putting two things on a the same page and implying one directly affects the other with out taking in account the underlying reasons. :P
- Ziriux, on 11/10/2009, -1/+2Well of course, this is what happens when you loose a business.
- Elranzer, on 11/10/2009, -1/+2UHC is not redistribution of wealth. Taxes are not redistribution of wealth, either.
- gvoakes, on 11/10/2009, -0/+1I have a few friends that filed for bankruptcy to avoid hitting a deadline on their student loans... pretty bad when they have to resort to ***** themselves over credit-wise to make time to pay off a debt.
- wassim2k, on 11/11/2009, -0/+1Idiots keep infographics from being carried away.
- allisonV12, on 11/10/2009, -0/+1Everyone is awake,just fear and uncertainty(every man and woman for themselves)... plus the BIG disconnect between bitching on the Internet and actually organizing.
The Internet is a pacifier,its the perfect tool for Big Brother.
People think the are rebelling against the machine,but with the lazy net is just a pressure relief valve - PhilPerspective, on 11/10/2009, -1/+2I believe it is seven, actually.
- robinthehood, on 11/10/2009, -0/+1That was probably one of the best explainations I have heard to this date, and kudos on it. I agree with you 100%. Don't know if I'm 100% on the Big Brother aspect (right now) but do agree with it as being a giant pacifier.
- thecoolestguy, on 11/11/2009, -0/+1It's not just about demand, it's about shopping around for lower prices due to being price conscious.
--You don't see people shopping around for the best bargain on their appendectomy.---
That's because it's an emergency. The vast majority of medical procedures are NOT emergencies. People have time to compare and contrast prices, unless they have insurance or government subsidies, in which case they have no incentive to look for the best price. If you have any personal experience with medical providers, you'll know that they'll hike up the bill if they know the patient has insurance. This is why medical costs keep rising every year, because the government keeps mandating more people be insured, either by private insurance or government programs.
More insurance = less market competition/price consciousness and higher prices.
The answer is to get government regulations/subsidies out of the industry, and let it operate like all other industries, where companies compete to get clients by lowering prices. - thecoolestguy, on 11/11/2009, -0/+1UHC redistributes wealth from the relatively wealthy to the poor who can't afford insurance. Taxes for social services in general are redistribution from the relatively wealthy to the poor.
- mier1, on 11/10/2009, -2/+2Can't wait for those new Cap-n-Tax and Obamacare taxes to hit. The unemployment should just skyrocket then and hell the prison population will too. We all know that Pelosi put some nice new incentives in the House bill such as, you WILL get insurance or you WILL go to jail and or pay a penalty.
Gee, I love this "free" healthcare. - allisonV12, on 11/10/2009, -0/+0Also maybe a high dose being overloaded with information...of being desensitized.
Cynicism has replaced protest.
Could Wall Street and the bankers get away with the blatant corruption in say 1965 or 1975?
The Net is tolerated because it gives the allusion of freedom as we sit and tap on the keyboard,in past generations/decades they would be marching in the streets.
Everyone thinks they are writing inspiring messages just like Thomas Jefferson or Mahatma Gandhi....then they head to the frig to get a snack.
Even a coherent digg reply is rare,it either turns ugly or condescending or insulting...its all about ego.
Twitter and Face book,its all about me me me. - PrestonLeigh, on 11/11/2009, -0/+0Well look at the good side. The Feds do not tend to raise interest rates until unemployment figures start dropping. An improved job market is quite a ways off. The Fed December meeting will not likely result in increased interest rates.
- BerateBirthers, on 11/18/2009, -1/+1Yes, really.
- BerateBirthers, on 11/18/2009, -1/+1Healthcare you have to pay a dime for is by definition not affordable. Some people just don't plan any money on healthcare.
- brickbat, on 11/10/2009, -2/+2I will try to explain this as simply as I can - like I was talking to an idiot.
Health care costs have to be covered some way. However it is delivered, money for it comes from peoples earnings. If you don't pay it as employer provided health insurance, you have pay it in wages so that people can afford their own insurance. If you don't pay is as wages, you have to pay it in taxes as in single payer. If your employees have the benefits but you aren't paying for them then your business is being subsidized by the rest of us.
Capish? - QQQQUUUU, on 11/10/2009, -3/+2Why when Republicans are in office, Hollywood and the Internet blames republicans for this but they do not blame democrats when democrats are on office and there are problems nearly as much
- xwatermelon, on 11/10/2009, -3/+0oh really?
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