There was a powerful article recently on the New York Times website, ‘Too Little Too Late’: Bankruptcy Booms Among Older Americans, by Tara Siegel Bernard. It seems that more and more, aging Americans are facing bankruptcy. The reason? The rich long ago shredded the social safety net that was supposed to care for senior citizens as they grew older.
Notes Bernard,”Driving the surge… is a three-decade shift of financial risk from government and employers to individuals, who are bearing an ever-greater responsibility for their own financial well-being as the social safety net shrinks.” Or, to put it another way, as the 1%, vast corporations, and the governments they control have opted out of the social welfare business, older citizens have had to increasingly rely on their own savings and limited earnings to pay for more and more of what used to be provided by society—food, housing, medical care, etc. This at a time when the price of those things are rising ever upward, and their own incomes are either fixed or going down.
The result is that more and more older Americans have no choice but to declare bankruptcy, a legal process that is itself expensive, and which leaves lasting scars on both individuals and the larger culture.
And so, yet again, we see the wonders of life in a Trumpian world, where there is no God and Ayn Rand is his prophet…or profit. Somehow, our own parents and grandparents are considered disposable…by the Elite.