This is much more of a political issue than an economic issue...

[whistle]

...as it represents further erosion of our individual protections and provides corporate fascism with yet another lever that erodes our personal freedoms:

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March 8, 2005
OP-ED COLUMNIST
The Debt-Peonage Society
By PAUL KRUGMAN

Today the Senate is expected to vote to limit debate on a bill that toughens the existing bankruptcy law, probably ensuring the bill's passage. A solid bloc of Republican senators, assisted by some Democrats, has already voted down a series of amendments that would either have closed loopholes for the rich or provided protection for some poor and middle-class families.

<snip>

Warren Buffett recently made headlines by saying America is more likely to turn into a "sharecroppers' society" than an "ownership society." But I think the right term is a "debt peonage" society - after the system, prevalent in the post-Civil War South, in which debtors were forced to work for their creditors. The bankruptcy bill won't get us back to those bad old days all by itself, but it's a significant step in that direction.

And any senator who votes for the bill should be ashamed.

<more>
<link> http://www.nytimes.com/2005/03/08/opinion/08krugman.html?th=&pagewanted=print&position=

[xray s]

1. This is why Democrats can't win national elections

When the tough votes come up, Democratic votes are the ones that put Bush's plans over the top.

So what exactly does being a Democrat mean, anyway? The national party doesn't seem to have an idea. (Can't we even get enough votes to filibuster this monstrousity? Good gawd!)

Maybe its all one big Corporate Party, with two different logos, for marketing purposes only.