Financial Quote of the Day

At InsureBlog Friday, Bob Vineyard used recent media coverage of the medical bankruptcy phenomenon to criticize the excesses inherent in Americans’ fiscal philosophy, both personal and governmental.  The entire article is worth reading, but the punchline bears repeating:

We are a nation of glutton’s and suffering from financial obesity. The issue of unpaid medical bills is only the tip of the iceberg.

On top of all this we are in an election year and politician’s, including those running for Congress, are promising more and more while they can’t cover their existing debts.

This is a train wreck.