Statutory Limit on the National Debt Raised to $10,600,000,000,000!

August 5th, 2008 Bank-Owned Properties, First Time Buyers, Foreclosures, Reno Real Estate Terry

         A week ago I had big public policy concerns about the new foreclosure bailout legislation that the President was about to sign.  Of course, President Bush did sign the bill, but I thought once again, it’s politics as usual, looking at the following last minute “Add-on” to the legislation.

     “Democratic leaders, recognizing that the measure could be one of the last items to become law during what’s left of their abbreviated election-year schedule, tacked on an $800 billion increase, to $10.6 trillion, in the statutory limit on the national debt.”  Yahoo Front Page Story (7-30-08)

     So, what’s really changed in the big picture?  The checking account is still out of balance.

Bookmark this article: