DeLauro: American Health Care in Crisis, Not Bankruptcy System

DeLauro: American Health Care in Crisis, Not Bankruptcy System

WASHINGTON - Congresswoman Rosa L. DeLauro (Conn.-3) today issued the following statement on the U.S. House vote to overhaul the nation's bankruptcy laws. The legislation does not exempt National Guard and Reservists who incurred debt as a result of their deployment. More than 1.5 million families had to declare bankruptcy last year—half because of unexpected and extraordinary medical expenses.

"There is a crisis in this country - one brought on the skyrocketing cost of health care, which has left more than 14 million Americans spending more than a quarter of their paycheck on medical costs, not a crisis caused by spendthrifts defrauding the public through our bankruptcy system.

"We can all agree that individuals should be accountable for living beyond their means, but if anyone is ‘gaming' our bankruptcy system, it is the credit card companies, who have long been advocating for this bill at the same time they prey on underage borrowers, unsuspecting customers and even our men and women in uniform.

"Yet this bill does nothing to require creditors to curb their outrageous predatory lending practices that mislead even the most educated consumers into debt. Instead, this legislation makes it harder for middle class families - widows and widowers, mothers and fathers - who are doing the best they can under unbelievable circumstances that have left them with no choice but to resort to the only recourse they have: filing bankruptcy, wiping out their debt and trying their best to start anew.

"I can hardly imagine a more unfair piece of legislation less concerned with promoting the common good."

http://www.house.gov/delauro/press/2005/April/bankruptcy_04_14_05.html