Saturday, February 04, 2006

It would be nice if Congress could practice what they preach

In the Saturday Wall Street Journal I read an interesting article on page A26 - Tax Talk Goes Orwellian.

It seems that when Congress passed bankruptcy reform, they weren't thinking about the example they themselves have set.

Our National Debt is presently at $8,184,000,000,000.00. Yes, there are that many zeros. (You thought your $10,000.00 credit card debt was high!).

But rather than behaving in such a way to reduce their debtload, which is what Congress told you and I to do, they instead are poised to raise the United States Debt Limit to $9,000,000,000,000.00. Congress is not publicizing this upcoming vote because they don't want you to know they can't pay their debts. If the government doesn't raise the debt limit, then they will default.

Rather than tightening their belt, Congress simply votes to raise their own credit limit.

Jay S. Jump
Jump Law Group

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