Time to trim the credit limit

Bush has signed an 800 billion dollar increase in the US government’s credit line into law. Republicans still blame 9/11 for a large part of the fiscal shortfall. If we are still feeling the economic impact of an attack that killed 0.001% of the US people, what will happen if there is a more catastrophic incident on US soil? Anyway I don’t really buy that argument, tax breaks for the wealthy and economic mismanagement are to blame for the current economic crisis.

Our debt has risen to 70% of the economy. As a home owner I’m well aware of lenders saying a 40% debt to income ratio is borderline and anything over 50% requires you to seek professional help. Greenspan gets it. He knows that the increasing deficit, and associated debt, is making the dollar weaker and although makes our exports more attractive does nothing to address a serious fiscal policy failure.