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Article: Bankruptcy rules require oversight.
- Article from:
- The Orlando Sentinel (Orlando, FL)
- Article date:
- May 22, 2005
CopyrightCOPYRIGHT 2005 The Orlando Sentinel. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Richard Burnett
May 22--The nation's new bankruptcy law, aimed at making more debtors pay more of their bills, will drive the U.S. government itself further into debt, according to government estimates.
From new judges, lawyers and clerks to new auditing policies, the cost of bankruptcy reform will mean almost $300 million in red ink over the first five years after the law takes effect in October, according to a forecast by the Congressional Budget Office.
That's a tiny blip in Washington, D.C. -- where measures like the Medicare prescription-drug benefit cost hundreds of billions of dollars -- but some experts said it is a sad ...