Friday, April 15, 2005


This is the AP "news" report just out:

"Tens of thousands of people who want to wipe out their debts in bankruptcy court would have to work out repayment plans instead under legislation Congress approved Thursday. A 302-126 vote by the House sent the legislation to President Bush, who said he was eager to sign the measure, the biggest rewrite of the bankruptcy code in a quarter-century. It marks the second major change in law to benefit business since Republicans increased their House and Senate majorities in last fall's elections... After eight years of strenuous efforts by congressional backers, banks and credit card companies, the legislation was catapulted toward enactment starting earlier this year. The legislation, which garnered some Democratic votes, cleared the Senate last month on a 74-25 vote. The measure would require people with incomes above a certain level to pay credit-card charges, medical bills and other obligations under a court-ordered bankruptcy plan."

These robotic Leftist journalists don't mention that businesses are doing very well without this legislation. They just pass on their bad debts to everybody else in the form of higher charges. It is CONSUMERS who will benefit by not having to pay other people's debts.


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