Thinking Outside the Box

How do you deal with an increasing number of medical bankruptcies among middle-class people who had health insurance? Fix the medical financing problem? That's hard. I know! Make it harder to declare bankruptcy!

Republican leaders in Congress began clearing the way yesterday for swift passage of legislation backed by the credit card industry and opposed by consumer groups that would make it harder for consumers to wipe out debt through bankruptcy.

Congress has tried repeatedly in recent years to pass similar legislation in what would be the most significant change in bankruptcy law in more than a quarter of a century. Twice in the last seven years, bankruptcy bills have passed both the House and Senate, only to face ultimate defeat. In one case, President Bill Clinton refused to sign the legislation, saying it was unfair to consumers.

I note that, although credit card issuers are the prime beneficiaries of this bill, that there has been no effort to restrain their headlong promotion of credit. I throw away at least one new card offer a day.