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Economic Boom in U.S. Bankruptcies; Financial ills plague the middle class, bedeviled by high-cost housing and related services and rising interest rates as well as the lure of cheap credit
0 Comments | Insight on the News, March 1, 2004
If Warren is right in her analysis of the deteriorating financial condition of America's middle class, the U.S. economy could be headed for a severe increase in personal bankruptcies and home-mortgage defaults during 2004 that might cripple any chance for a broad-based economic rebound and do similar harm to the election prospects of Republicans of all stripes.
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Christopher Whalen is a contributing writer for Insight Magazine.
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