I have been reading about the debt ceiling for three months now. I am tired of it but was amused to read an article about how things have flipped. On March 16, 2006, a democratic senator denounced George W. Bush’s request to raise the debt limit. “The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure,” the senator thundered. “Increasing America’s debt weakens us domestically and internationally. . . . Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren.”
That senator was Barack Obama, and he, along with most Democrats, voted against a higher limit that day. It passed only because almost every Republican voted for it, including many who are today among the strongest opponents of a debt-limit increase. Today the Republicans are dragging their feet and the President is telling them to eat their peas. Now the Press is telling us that it is all for political gamesmanship. I am tired of the games and am worried that the games could cost our country dearly.
Your estate planning is the same way. If you don’t take care of things now, it may cause a lot of turmoil in your family later. It may cost your family not only money, but it could also jeopardize family relationships. The sad thing is it is so easy to avoid these problems by just getting your estate planning done, yet so many people won’t take the time. This is how estate planning keeps the peace. If you haven’t taken care of estate planning and need help take a look at my book Protecting Your Financial Future.