Still digging...

Must be nice to be able to increase your own credit limit at will:

Senate Democrats on Wednesday proposed allowing the federal government to borrow an additional $1.9 trillion to pay its bills, a record increase that would permit the national debt to reach $14.3 trillion.

The record increase in the so-called debt limit is required because the budget deficit has spiraled out of control in the wake of a recession that cut tax revenues, the Wall Street bailout, and increased spending by the Democratic-controlled Congress. Last year's deficit hit a phenomenal $1.4 trillion, and the current year's deficit promises to be as high or higher.

Less than a decade ago, $1.9 trillion would have been enough to finance the operations and programs of the federal government for an entire year. Now, it's only enough to make sure Democrats can avoid another vote before Election Day.

I'm not sure it'll last even that long. Any day now I'm expecting Uncle Sam to declare his shock that all that "stimulus" didn't set everything to rights, and it's time to double triple down.

In personal finance, borrowing to pay your bills is a sign of insolvency -- that serious adjustments are required. And in business, the first rule of borrowing is that it should produce a capital improvement, not meet the overhead. What are we getting for all this red ink? It's time to stop being the global policeman and emergency rescue service when we can't even meet our own obligations.