Thursday, November 08, 2007

An Idea to Use With Your Credit Card Company

How many times can you spend $6 billion you don't have? Congressional Democrats have done it four times (and counting):

In four separate pieces of legislation -- two energy bills, the farm bill and a bill that would fund rural schools and libraries -- lawmakers in the House of Representatives make use of $6 billion in payments from oil companies.

Unfortunately, the same $6 billion gets spent in each bill.

What's more, because of a recent federal court ruling, it's unclear whether that money will ever be collected.

It's an extreme example of the contortions Congress has been going through to comply with pay-as-you-go rules put in place by the Democratic majority, requiring that any spending increases or tax reductions be offset with spending cuts or tax increases.

Don't worry. If the money fails to materialize, it simply gets tacked onto the federal deficit. Then... oh yeah. YOU pay for it.

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