Wednesday, June 2, 2010

Cautiously Optimistic About President Obama’s Stimulus Package

A quick glance at the bankruptcy statistics from around the Country
illustrate that bankruptcy filings have increased by 220% from 2007
thru 2010.

Between March 31, 2006 and March 31, 2007
695,575 bankruptcy cases were filed.

Between March 31, 2007 and March 31, 2008
901,927 bankruptcy cases were filed.

Between March 31, 2008 and March 31, 2009
1,202,503 bankruptcy cases were filed.

Between March 31, 2009 and March 31, 2010
1,531,997 bankruptcy cases were filed.

The statistics show a remarkable increase in bankruptcy filings
which are a good barometer for the economic situation in this Country.

The percentage increase from 2007 to 2008 was 29.7%
The percentage increase from 2008 to 2009 was 33.3%
The percentage increase from 2009 to 2010 was 27.4%

This is hard evidence that millions of Americans are
filing bankruptcy and the numbers are increasing at a startling rate.
A 220% increase over three (3) years indicates that we are knee
deep in a recession and it is more likely that we are in the
thick of it rather than on the way out.

I am cautiously optimistic about America’s economic recovery.

Stephen M. Dunne, Esq.
Dunne Law Offices, P.C.
1500 John F. Kennedy Boulevard
Two Penn Center, Suite 200
Philadelphia, PA 19102
(215) 854 – 6342 office
(215) 205 – 6367 cell
(215) 525 – 9721 fax
dunnelawoffices@gmail.com
www.dunnelawoffices.com

Article Source Material:
http://www.uscourts.gov/Statistics/BankruptcyStatistics.aspx