Statements about Bankruptcy

Says that Mitt Romney's response to the crisis in the auto industry was, "Let Detroit go bankrupt."

"The country's bankrupt." 

"Barack Obama is in an economy that's only worsened since he's been president of the United States."

Stabilizing the recent financial crisis "will cost less than 1 percent of GDP," which is less than the 2.5 percent to fix the savings and loan crisis of the 1980s.

Children born today will carry a $30,000 share of the national debt.

"Harry Reid says he does more for Nevada. He's done more for unemployment. We were at 4.4 percent. Now we're at 14 percent. He's done more for the foreclosure rate. We have the highest foreclosure rate in the nation. He's done more for bankruptcy. We have the highest bankruptcy rate in the nation."

GM has "repaid our government loan, in full, with interest, five years ahead of the original schedule."

The financial services regulatory bill "will end taxpayer bailouts."

"The bill reported out of committee sets up a $50 billion slush fund that, while intended for resolving failing firms, is available for virtually any purpose that the treasury secretary sees fit."

Sixty-two percent of all personal bankruptcies are "caused by medical problems."

"President Obama will now own 60 percent of GM, and his union buddies will own almost 20 percent."

Senators who have accepted millions in campaign contributions from the financial industry voted against allowing bankruptcy judges to modify home mortgages.

John McCain opposed bankruptcy protections for families "who were only in bankruptcy because of medical expenses they couldn't pay."

"She said, you know, 'I voted for it, but I hoped it wouldn't pass.' That was a quote on live TV."

Advertisement
How to contact us:

We want to hear your suggestions and comments. For tips or comments on our campaign promise database, please e-mail the Obameter. If you are commenting on a specific promise, please include the promise number. For comments about our Truth-O-Meter or Flip-O-Meter items, please e-mail the Truth-O-Meter. We’re especially interested in seeing any chain e-mails you receive that you would like us to check out. If you send us a comment, we'll assume you don't mind us publishing it unless you tell us otherwise.

Browse the The Truth-O-MeterTM:
Browse The Obameter:
Subscribe:

Keep up to date with Politifact National: