Congressional Money Laundering
We appreciated The Hill's investigation into which Congressmen are carrying five-digit credit debt, otherwise known as "normal." We were especially glad to see that not one of them seems ashamed of this, and why should they be? They're bucking up the American economy. Don't call it over-spending, call it "freedom spending." The logic of Democratic Representative Greg Ackerman also appears to explain the deficit:
"If you do it carefully, you wind up paying nothing in interest," he argued. "If someone is going to give you free money, I want to be in that line." Asked if he planned to pay off the balance for good, he said, "If they keep offering zero percent interest for three months, I'll do it forever. … Do you wanna loan me a couple of bucks at no interest?"Well, at least he's not greedy!
The Hill further reported that the amount of debt run by by representive did not appear to affect how they voted on bankruptcy reform. Apparently, they're more indebted to special interests than to their credit card companies. Aint democracy grand?
A Hill of credit-card debt [The Hill]