President Obama signed new credit card legislation today. Again, thanks to Barry O, responsible Americans will wind up paying for irresponsible Americans.
The White House staged a signing ceremony in the Rose Garden, an indication of the legislation’s importance to Obama. Though opposed by many financial companies, the bill cleared Congress with broad support.
Obama made clear that he didn’t champion the changes with the intention of helping those who buy more than they can afford through “reckless spending or wishful thinking.”
“Some get in over their heads by not using their heads,” the president said. “I want to be clear: We do not excuse or condone folks who’ve acted irresponsibly.”
He doesn’t condone it? Why, then, would he sign legislation that would shift the costs of the irresponsible to the responsible?
Despite being touted as a victory for consumers, financial experts said the bill could have unintended consequences as credit card companies look for ways to make up for potential lost revenue. Those measures could include more cards with annual fees and the loss of a grace period before interest accrues, which would affect even those consumers who pay off their balance each month.
You could call the consequences unintended if the facts weren’t known ahead of time. In this case they were. This is just another way for the Socialist in Chief to spread the wealth around.
[...] Original post by The Lonely Conservative [...]
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I’m one of those people who has lived ultra-responsibly and am getting shafted everywhere I turn. I have no idea how to express my disgust without profanity, so will skip that….
Really stocking up my End Times Cabinet and gotta say, I’m going to eat pretty good and enjoy all that Cottonelle. I’m making a list of people who think all this is grand. I intend to chuck empty toilet paper rolls at them while they bang on my door in panic. I’m sorry to say even some family is shifting to the dark side; people are so easy, aren’t they?
Did I mention I despise these people? I hate living in France.
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We have more TP in this house. We could go months. Same with canned and dry goods. I’ve always been that way, but now it really seems like it will come in handy.
Atlas is shrugging.
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Elections have consequences.
Next time peeps need to:
1. Pay Attention
2. Get involved
Next time around, simply voting may not be enough to recover from this.
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