Why Americans are drowning in medical debt
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 27 March 2024
⏱️ 7 minutes
🧾️ Download transcript
Summary
Medical debt is the leading cause of personal bankruptcy in America. Throughout the week, we’ll hear portions of a recent “Marketplace Morning Report” event to better understand what’s behind some of these exorbitant costs and hear about potential solutions. Plus, rerouting ships away from the Port of Baltimore will take time and money. We look at the potentials costs and see what other ports stand to gain.
Transcript
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| 0:00.0 | Buying too many flat screens or sneakers is not the cause of personal bankruptcy in America, the leading cause. |
| 0:08.0 | It's needing medical treatment. |
| 0:11.0 | I'm David Brancaccio. First a day after a disabled container ship hit and |
| 0:15.7 | destroyed the Francis Scott Key Bridge in Baltimore, supply chains are already under stress. |
| 0:21.9 | Companies are scrambling to reroute goods and other |
| 0:24.0 | ports on the East Coast could benefit. Here's Marketplace's Henry Epp. |
| 0:28.0 | Thousands of cars, trucks, and large farm and construction equipment roll on and off ships in the port of |
| 0:33.0 | Baltimore each year more than any other port in the country. So closing down |
| 0:37.0 | that facility will have serious ripple effects as Secretary of Transportation Pete |
| 0:41.0 | Buda judge noted at a press conference yesterday. |
| 0:43.6 | You also have container traffic, you have bulk traffic. |
| 0:46.7 | There is no question that this will be a major and protracted impact to supply chains. |
| 0:53.0 | That impact could be an economic positive for some other East Coast ports, |
| 0:56.7 | like in Brunswick, Georgia, home to the second busiest port for vehicle imports and exports. |
| 1:01.5 | Officials there have been investing in the port's infrastructure with the intention of |
| 1:05.0 | overtaking Baltimore's top ranking. |
| 1:07.5 | Other East Coast ports that can handle vehicle shipments include Savannah, Georgia, |
| 1:11.2 | Jacksonville, Florida, and the Port of New York and New Jersey, all of |
| 1:14.7 | which could also see more container ships. But rerouting huge ships and the supply chains |
| 1:19.9 | to offload their cargo will take time and money. |
| 1:23.0 | That could have an impact on the cost of moving freight. |
| 1:26.2 | And shipping rates have risen a bit in the last few months, due in part to attacks on commercial |
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