Originally created 05/25/05

Senate shows two faces on bankruptcy

In March, the U.S. Senate passed the Bankruptcy Abuse Prevention Act, which will become effective later this year. The bill was sponsored by Sen. Charles Grassley of Iowa, and numerous Republicans, including Jim DeMint of South Carolina.

Although the votes in favor of the bill were largely by Republicans, many Democrats also voted in favor, notably Sen. Joe Biden of Delaware.

In any event, according to Sen. Grassley, the primary purpose of the bill was to penalize credit-card spendthrifts - perceived by the senator to be epidemic - and instill in them a sense of fiscal responsibility.

Meanwhile, America's public finances are a shambles - $43 trillion in the hole and getting worse every day. The U.S. government is effectively bankrupt.

How quick our elected representatives are to condemn individuals for fiscal irresponsibility, yet none has the courage of a rat when it comes to raising taxes on reining in spending.

How do these guys sleep at night?

Lee Ringler, Augusta


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