Business Bankruptcy Law | Small Business Bankruptcy Laws

Assume for a minute that you earn ,000 this year and spend ,000. Next year, you earn ,000 and spend ,000. You’d be on the fast track to bankruptcy.

Now add eight more zeros to those numbers, and you get a sense for the federal government’s dire financial situation. This year, Washington is on track to spend nearly two dollars for every dollar it takes in. Under President Obama’s budget for 2010, the government would spend about three dollars for every two coming in.

Which candidate for President do you think is most concerned about the highest priority issues in America? I have heard that McCain has expressed the urgency to find new oil resources and decrease our dependency on foreign oil and that will help get us out of Iraq and increase funds to develop alternative fuel sources. I haven’t heard much about Obama’s plans, only what he has to say negative about his opponents. http://mhutch.blogspot.com/2008/05/more-alaska-oil-drilling-needed-to.html http://www.issues2000.org/2008/John_McCain_Energy_+_Oil.htm I mean oil independence will take some time, but considering the present crisis – isn’t some drilling in Alaska and other areas of the US – important to try? I heard the oil prices are going to hit 200/barrel in 2 years which equates to more than .00 per gallon for businesses and consumers in the US. Prices will increase, demand will decrease, average people will lose jobs and not be able to afford food and housing – bankruptcy!

Close Bankruptcy Loophole for Mortgage Companies: Obama and Biden will work to eliminate the provision that prevents bankruptcy courts from modifying an individual’s mortgage payments. They believe that the SUBPRIME mortgage industry, which has engaged in dangerous and sometimes unscrupulous business practices, should not be shielded by outdated federal law.

i capitalized it so u guys could find it. imdoing research for a debate in english class and i was reading and my word document says that "subprime" is wrong and so does yahoo answers. so i wondered what an alternative word wold be so that i know what its talking about and i will understand better.

thanks in advance.

*an please, no opinions on the election. i just want to know the meaning of the word. =]
OHH. so its like less than prime? like secondary?

thanks!