As the Biden administration crows about economic recovery, a tsunami of bankruptcies is washing away American businesses and households at an alarming rate.
At a Glance
- Total bankruptcy filings surged 14.2% in 2024, reaching 517,308 cases
- Business bankruptcies skyrocketed by 22.1%, signaling severe economic distress
- Non-business bankruptcies increased by 13.9%, affecting nearly half a million households
- The trend of increasing bankruptcies has persisted since June 2022
The Biden Bankruptcy Boom
While the White House spins tales of economic sunshine and rainbows, the cold, hard numbers tell a different story. The Administrative Office of the U.S. Courts has dropped a bombshell: bankruptcy filings in 2024 have surged by a staggering 14.2%. This isn’t just a blip on the radar; it’s a full-blown economic crisis unfolding before our eyes.
Let’s break down this financial fiasco. In 2024, a total of 517,308 bankruptcy cases were filed, up from 452,990 in 2023. That’s not just a number; that’s over half a million American dreams shattered. But wait, it gets worse. Business bankruptcies soared by an eye-watering 22.1%, jumping from 18,926 to 23,107. If this is what economic recovery looks like, I’d hate to see what a recession brings to the table.
The “Build Back Broke” Reality
Remember when Biden promised to “Build Back Better”? Well, it looks like we’re building back broke instead. Non-business bankruptcy filings – that’s regular folks like you and me – increased by 13.9%. We’re talking about 494,201 households facing financial ruin. This isn’t just an economic statistic; it’s a human tragedy playing out across America.
And here’s the kicker: this isn’t a new trend. Bankruptcy filings have been on the rise every quarter since June 2022. That’s right, while the administration has been patting itself on the back for its economic ‘achievements’, more and more Americans have been lining up at bankruptcy courts.
A Decade of Decline Reversed
For the past decade, we’ve seen a steady decline in bankruptcy filings. In September 2010, we hit a peak of nearly 1.6 million cases. Since then, the numbers had been dropping… until now. The Biden administration has managed to reverse this positive trend, pushing us back towards those crisis-level numbers.
Sure, we’re not at 1.6 million yet, but at this rate, how long before we get there? The trajectory is clear, and it’s pointing straight towards economic disaster. This is what happens when you prioritize woke agendas over sound economic policies, when you print money like it’s going out of style, and when you treat the Constitution like it’s a suggestion rather than the law of the land.
Wake up, America. This isn’t recovery; it’s regression. It’s time to hold this administration accountable for the economic havoc they’re wreaking on hardworking Americans. The numbers don’t lie, even if politicians do. We need real solutions, not more empty promises and misguided policies that are bankrupting our nation, both figuratively and literally.
