December 19, 2008
Q: What is the percentage of total personal bankruptcies caused by health care bills?
A: A Harvard study published in 2005 found that about half of those who filed for bankruptcy said health care expenses, illness or related job-loss led them to do so. Twenty-seven percent cited uncovered medical bills specifically, and 2 percent said they had mortgaged their home to pay what they owed.
Q: How is President-elect Obama paying for his transition?
A: Obama's transition is being financed with $5.3 million in public funds provided by Congress, supplemented by another $6.7 million that his team hopes to raise from individuals in donations not exceeding $5,000 each.
To learn more about FactCheck, visit www.factcheck.org.
