Demos.org’s latest report on the economic status of the middle class is downright scary. As a member of the middle class who’s partner lost his job due to his company relocating across the country, I can tell you people everywhere are literally hanging on by a thread.

My partner was unemployed for 9 months, and though we made it through, according to Demos, we are among only 13 percent of middle-class families that have the assets available to cover living expenses when regular income ceases for 9 months. Seventy-nine percent of families can barely cover the majority of expenses for 3 months, and another 9 percent are “borderline.”

According to Demos, “Twenty-one percent of middle-class families have less than $100 per week ($5,000 per year) remaining after meeting essential living expenses. These families are living from paycheck to paycheck with very little margin of security.” That means any expense like a broken water heater, fender bender, or a trip to the emergency room could spell disaster.

I guess it’s no wonder that after the initial decline in bankruptcy filings after BAPCPA, filings are once again rising. The bankruptcy statistics released by the Administrative Office of the Courts show a total of 132,008 bankruptcy filings in September of 2007, compared to 96,442 bankruptcy filings in September of 2006. Each quarter of 2007 averaged 40,000 more bankruptcy filings compared to 2006.