RailSignals

The US national debt spending limit
      As we move into midyear, the perennial credit limit authority

seems to always come to the forefront. In these times of heightened

awareness  of the dangers of unmanageable debt, new vigor appears
in the media and the halls of congress. I am sure,as our ever
vigilant lawmakers begin the process of tough love, that the

unserviceable limits of the past will begin to be reduced. As they roll the

limit back, say by 500 billion per year, and install a strong enforcement

law, call it a constitution amendment,   in 20 years our children and

grandchildren will be returned to a time of financial comfort.

     That brings me to a sub point. Large debts are not only held by

governments, but also are carried by many families. This must also be

brought under some reasonable level. The subtle lure of instant

satisfaction has seduced mankind for centuries. Debt is spoken about in

the holy books of every religion, and often in very unflattering terms.

There is no need to reinvent the wheel here, just follow the wise

instruction of our grandparents, and avoid unneeded indebtedness

and save a bit for hard times. This simple wisdom, if followed, will 

always lead to peace of mind. Now that is worth something, security