Do Medical Bills Really Devastate America’s Families? Medical bills were the biggest cause of U.S. bankruptcies, according to a CNBC report. It estimated that 2 million people were adversely affected. A popular Facebook meme said the 643,000 Americans go bankrupt each year due to medical costs. President Obama, in his 2009 State of the Union address, said that a medical bankruptcy occurred every 30 seconds…....