With President's Day having been earlier this week, Arizona attorney John Skiba writes that he became curious as to which U.S. Presidents have filed bankruptcy. According to Skiba, there appear to have been four. The Presidents of the United States who have filed bankruptcy include:
- Thomas Jefferson
- Ulysses S. Grant
- William McKinley
- Abraham Lincoln
Skiba states that, "A consistent theme behind each of their bankruptcies was a failed business venture."
As we recently discussed on this site, bankruptcy filings in 2010 rose an additional eight percent. While the government continues to say we are entering an economic recovery, many people have yet to see that affect their own lives.
What are your thoughts about the continually climbing rate of bankruptcy filings in this country? Is the economy really recovering, or are people just being mislead into thinking there is a meaningful recovery in the works? Share your thoughts in the comments section below.