ATX LTT ALT DEVIATION OVERSHOT DURING DESCENT AND A GENERAL COMPLAINT ABOUT FAA FLT TIME LIMITATIONS.

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ON 4/MON/88; OUR COMPANY REDUCED OUR REST TO 8 HRS. OUR RPTING TIME WAS SA15 AFTER AN OFF DUTY TIME OF XB15 THE NIGHT BEFORE. WHILE ENRTE FROM NEWARK TO HARRISBURG ON V162; 20 DME SW OF ETX; NY CENTER ASKED FOR A GOOD RATE FROM OUR ALT OF 10000-8000'. THE CAPT WAS PERFORMING THE DSCNT CHKLISTS AND TALKING TO OPS. THE COPLT LEVELED OFF AT 7000'; UPON WHICH CENTER ASKED OUR ALT. WE RESPONDED AND HE TOLD US HE HAD ASKED US TO LEVEL AT 8000'. WE REALIZED WHAT WE HAD DONE. WE ASKED IF HE WANTED US BACK AT 8000' AND WERE TOLD YES. WE HAD ALREADY BUSTED OUR CLRNC. AT 8000' WE WERE TURNED OVER TO HAR APCH AND PROMPTLY DSNDED TO 4000'. WE FEEL THAT REDUCED REST WITH 14-16 HR DUTY DAYS ARE NOT IN THE BEST INTEREST OF SAFETY. WE ARE REQUIRED TO PERFORM DUTIES THE PUBLIC DOESN'T EXPECT OUT OF A BUS DRIVER. WE FEEL THE FAA SHOULDN'T ALLOW SUCH EXTENSIVE TIME FOR DUTY. SUPPLEMENTAL INFO FROM ACN 85323: WHEN YOU GET OFF DUTY; GO HOME; FALL ASLEEP; YOU GET AT THE MOST 5 HRS OF REST. THEN YOU ARE PUT ON AIRPLANE FULL OF PEOPLE ENTRUSTED TO YOU FOR 16 HRS OR MORE. I THINK THE FAA SHOULD RE-EVALUATE THESE REGS.