12/8: "Cred" Card Debt

DL 'Tis the season. Read recently the latest on consumer debt - $1.7 trillion. To picture this, stack $1,000 bills on top of each other and the pile will go 67 miles high. The average American carries $8,562. The average consumer has 8 cards, 20% maxed out (see http://credit.about.com). Total debt $32 trillion (house, hold, business, financial and government) - this is $115,322 per man, women and child.

AC Fiscal responsibility must be modeled at our highest levels. Republican Congresses when working with Republican Presidents have not shown much discipline. Disappointing.

DL Yesterday more "cred" (credibility) was lost with the passage of more tax cuts. This time, credibility was lost my House Democrats. They talk about reckless Republicans, but the vote was 414-4. Where were the Democrats?

NH Average family pays about 30% of their income to taxes. Tax freedom day is now back to April 17.

AC Remember much of this is only symbolic. House Democrats hope that the Senate will take the heat and do the right thing.

DL Now you are losing credibility.

How can we insulate the Congress from running scared? Can a peoples' legislature make the hard choices?