Congress has designated the Week of October 17 as “Lawsuit Abuse Week”, with a few bills slated for action that will begin to curb this tsunami-like tide of frivolous litigation.
To get you’re ready, to get you in the mindset, here’s a fun fact: We spend over two percent of our Gross Domestic Product on tort costs, according to a recent Towers-Perrin study. That 2% of our GDP is — in absolutely dollars — seven and a half times more than the nearest country — Germany — spends.
Worse still, that two percent of our GDP is larger than the entire GDP of the countries on this list. As the saying goes, read it ‘n weep.
Watch this space for more on this topic all week.
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