Article Contributed on: 9/25/2008 12:24:34 AM
Before the Titanic hit the iceberg, engineers thought it nearly unsinkable.
The Titanic was a new design of steamship. Its holds were separated by sealable bulkheads and a pump system pumped water from one leaking compartment into another in order to stabilize the ship so it would not tip and sink.
This system came into play the infamous night of the Titanic disaster. The new system worked: water leaking in from the iceberg's gash was pumped from compartment to compartment. The ship filled with water, lost its buoyancy and sank like a stone.
A similar system is being proposed to Congress by the Treasury. The bill is coming due for 63 postwar years of saving the taxpayer bad news by borrowing to cover government overspending. The Treasury wants to pump more government borrowing into the sinking financial system to stabilize it.
Sound a lot to me like pumping water around the Titanic.
Had enough of the Democrats and Republicans and their mismanagement of your money? Vote Libertarian this year!