Obama to Congress: Send Me the Credit Card Reform Bill

This is just a bunch of PR politics. “Obama battles unfair credit card fees”. /Cheer!!
The fact is that the only people being hit by “unfair penalties, hidden fees” are the people that don’t bother to shop around, don’t pay their monthly bill on time, or don’t read the fine print. There’s enough competition out so that, if you’re responsible, you have access to a decent credit card.
The banks aren’t forced to issue credit cards. We could just go back to the days where everything was on layaway. I guess that would be “fair” to everyone?
I the “hidden” issue here is the fact that credit scores are being used to qualify for a housing loan. This keeps people (especially low income people with credit trouble) out of the housing market…..

No, it’s not just the people that are too “dumb” to know better or mess up! AS far as I know, I have an excellent credit rating and pay on time. I received a letter from several credit card companies telling me that my rate was being increased. Deregulation (can we say thank you Reagan?) was the most stupid idea EVER. Now we’re seeing the real cost – it took a while for the brillance of the repubicans to shine through. The people that are being affected are the ones that can least afford these games. Thank you President Obama!

I thought I heard that this bill if
passed would not go in effect until
July 2010. Window dressing as usual.

it was wall street and washington who, combined, allowed these giants to be created over the years as they gobbled-up one bank after another. but, this is what they know – as long as the stock market goes up like it did the last two months, americans will be quiet. there is a very disturbing game going on, and the last thing wall street or washington wants is a new set rules to actually occur now that might slow-down profits. it is a show. i say, take your money out of these big bailout banks and put it in a local institution, and tell all of these actors to take a hike.

gwn: All of this talk is too little too late anyway. Congress and the President gave these banks plenty of time to implement the higher rates and tactics before any legislation was even discussed. The rules could happen right this minute, but the damage is already done.

“monitoring” Another Obama method for a takeover all in the name of “protecting the people”. What a hero to save us from those nasty credit card companies conspiring to hurt us! Obama is moving to take over the car companies, banks, health care, the education system, the insurance companies, the credit card industry, etc.. one by one.. without opposition. The liberals swoon and praise Obama for his actions and the weak Republicans, who do not want to offend Obama, give him control of more and more. Where do you think we’ll be in 4 years? It is easy to see parallels to Chavez. America is stuck in the “it can’t happen to us” mode but, it is happening! It’s well planned. Wake up America before it’s too late!

“Just one more way for the community activist to have control.” You can say that again!
President Obama has now actually crossed the line. California spent months trying to get a budget passed (it requires a 2/3 vote). The state legislature finally passed the budget but it includes a $2.00 wage cut for some unionized state workers. Now President Obama is threatening to withhold billions in stimulus money unless California rescinds the wage cuts. He is meddling in state affairs and using extortion in order to payback the unions who supported him.
Gov. Schwarzenegger should tell President Obama to mind his own business.
If President Obama refuses to give California the billions in stimulus money, some unionized workers may instead of having a wage cut could ultimately end up losing their jobs.
President Obama said he was remaking America. Wake up America, our Republic is quickly turning into a Thugocracy.

“The only way Americans are going to get out from under the abuses of the Credit Card is to walk away from them.”
Or don’t get under them in the first place. But that would involve reading the contract, disciplining oneself in the use of credit, and generally leading one’s own life responsibly. But one need no longer do that; just let the federal government run your life for you, and things will generally be fine. Of course, there may be a bit of a downside…

Why would Congress do that when liar/thieves like Pelosi are probably making kick backs from these card companies. You republicans can moan all you want but its better to have a President that is trying to help instead of a President like we had that did nothing except to finance wars. I am a Obama voter but don’t trust Congress at all and with Pelosi and Dodd getting caught lying and with many others on both sides of the isle doing the same, why would they actually do any thing for the populations interest and the cost of their own interest and agendas.

Several years ago, I had a city card and put less than $300.00,I think that was just gas, or something trivel. After some time I went to the credit report.com and It came back with, $21.000 on it. I called them to try and strighten this mistake, how could 300.00 dollars get up to #21,000.? Interest. Mr President do you really help the little people? So, I after numerous calls back and forth, included so company they hired to insult me, calling me names I got tired of their tactics. So let it continue to be charged off. I don’t care anymore.
Thank you for letting me vent.
Lois S

ascotan – “shop around”?
Greg – “Capitalism still works!”?
The Government is suppose to protect honest Americans, and honest Business Practices. Finding a “fine print” way to get over on American Consumers isn’t an act of Capitalism, it’s an act of Fraud. If you have a good product, sell it as a good product and back it up. No surprises, no hidden fees. If you don’t have a good product, either fix the product, close your business, or find some country other than America to sell it to. Bottom line, the definition of Capitalism is “building a better mouse trap”. If a company builds and sells cars and you think you can build a better product, you get into the business and try to win more than they do. I say for companies looking for nothing other than to scam people out of their money, you’re toast, and I’d like to see the Government write harsh laws that penalize you like we penalize murderers. Crime is crime. You break the law, you pay, period. The severity of the crime means nothing to me.

Isnt it too late?
Most credit card companies have already raised the interest rates and fees, I know mine have.
And I agree with other people… pull your money and business out of the big bailed out banks and do business with small local banks/credit unions… they are the ones that deserve our business….
When main street suffers, wall street soars… and its proven in the stock market.
Lets hit em where it hurts.
Enough with the corrupt, rich and greedy getting what they want and the rest of us suffer.
We can take our business elsewhere and not hurt anymore.

SOUNDS more like the Soviet Union every day !

well shocking but true I 99 percent do not agree with Obama but this credit card bill would be good for the country. Bank of America is killing people with their rates ect,yet asking for mor money to get bailed out .I say let them fall flat with all their shrewd methods ect .

Democrats tried to get legislation going on credit card reform last year before the economy tanked but the republicans formed a lock step battle against it. So now, yes, the credit card companies have been allowed to do a lot to us already. But, as soon as this law is passed, they won’t be able to charge higher interest on balances you already had. They won’t all be able to increase your interest rate on every card if you make your utility bill a week late. They won’t be able to put everything in fine print and trick you. My daughter spent $60 on a credit card and that was her only charge. Unfortunately, she became very ill right after. Three months later when she was able to function, that $60 had become $600 because of penalty fees. They even double charged penalty fees because their penalty fees took the balance above a low introductory limit so they charged over payment fees based on penalty fees. It’s pretty vicious. And it’s destroying a lot of families.

Why aren’t you angry at the states with lax or nonexistent usury laws, such as Joey B’s Delaware and South Dakota? They enticed businesses to come to their states this way. They allowed the banks to raise rates at will on you, the consumer.

What does Delaware Joe think about this? Won’t this make it more difficult for his widdle heir to the throne to get elected to “his” seat?

Now you know the difference between one party and the other.
Under a republican administration the attitude was let big business make their money and let them use whatever tactics they need to make it, the government just looked the other way.
Under a Democratic president the attitude is the government is involved as a protector to make sure the bullies do not trampled the little people.

RON SAID, “SOUNDS more like the Soviet Union every day!”
I agree with him! With Socialist Nancy, Dianne, Waxman and Harry Reid leading the charge! Just like Russia, they are in power and have all the money!!!

luigi: The damage is done. This not a partisan thing, both parties and congress (including when the President was part of congress) have had a chance to do something about this. As I say below, Washington and Wall Street are doing a dance. The President and Congress “spank” the banks while they pour hundreds of billions of dollars at the 19 biggest banks in the world – many of them are also credit card issuers. The spankings are meant to look tough. Wall Street pretends like these “spankings” hurt, but the fat cats know they mean nothing because they have already reacted and pushed rates and fees through the roof. Washington looks like the savior. Meanwhile, Wall Street takes those hundreds of billions of dollars of bailout cash and instead of lending, prop-up its own assets – stocks, bonds, etc. Wall Street wins. Washington wins. For God’s sake America, don’t be part of this disgusting dance. The one thing both Wall Street and Washington fear the most is that Americans will finally say enough of this dance and pull their savings accounts, checking accounts, CD’s, etc from these banks. It is time to say enough!

WHAT ABOUT ALL THE HIDDEN FEE’S THE GOV’T USES. By the time we buy a product, how many times has it been taxed at different levels. Also the gov’t is using a new word for tax = FEES. They say they are not raising taxes, but they raise fees. We don’t need a gov’t. The US gov’t is the domestic enemy of the people.

As a former VP in Charge of Lending, I can verify that the credit card people are out to rob, cheat and steal at every opportunity. A precious few have morals. I have been in meetings with them when they would cook up every scheme in the book to rip off anyone they could. Off with their heads!

Obama I believe you honestly care about the voter’s wants and needs. Obama you may earn my vote as a lifelong republican next election. Obama, if you can reform our domestic policies and not socialize our nation, regulate business and not govern business, make our foreign policy stronger, separation of church and state; then and only then you have my vote! We need a honest and strong leader in the GOP and ride the idiot servants like Rush L.
Laura

“…and not socialize our nation”
Too late, Laura, my dear. You are either in denial or you have a brilliant wit.
How about calling on Joey B to have his state enact some usury laws?

If you’re a buffoon who can’t make your mortgage payments, contact Obama to bail you out. If you can’t understand you credit card contracts and can’t pay off your credit cards, contact Obama for a bail out, too. Meanwhile the rest of us will have to pay for your ignorance and irresponsible behavior for years to come.

“So now, yes, the credit card companies have been allowed to do a lot to us already.”
Did somebody put a gun to your head and make you charge more on your card than you could pay at the end of the month?

How does encouraging people to take on more debt help them in the midst of a credit crisis?
We don’t need protection from credit card companies. We need responsible leadership. Responsible people would not take money from people who are already broke, and give it to the people who made them broke.

several years ago i took a trip overseas. i gave my credit card company $5000.00 IN ADVANCE to pre-pay my trip so i wouldn’t have any bills when i came home. three weeks into my trip, my credit card company shut off my credit card even though they had 5k of MY money. this cost me 10 days in a hotel, food, etc…because i missed the dive cruise i was scheduled for and had to wait for the credit card to be unblocked. it also cost me hundreds of dollars in phone calls back to the USA to solve the problem.
the credit card company said security was protecting me because the spending pattern (foreign) was out of the ordinary …and they were trying to protect me from fraud!

“LOL you Obama haters crack me up.
You take the word of our enemy’s and use it to attack him.”
LOL..Obama lovers never did that to Bush, huh? You crack me up.

So when I see people that think credit card reform is just appealing to people who dont read their terms and conditions and get ripped off with hidden fees is wrong…..then you much agree that its your fault of someone sales drugs to your kids, it your fault as a parent. dont attempt to stop the drug trade

I have a right not to use a certain credit card. I have the right to shop for one that gives me favorable terms. But I seem to have no right to prevent me from being ripped off by Obama and this congress. Where’s that right? What an obscene gesture to show that he’s doing something for me when he’s hamstrung mmy family and future generations with a debt that we’ll never be able to pay back. Where’s the outrage there?

“I just love to see the once great American Eagle turn into a pigeon.”
Well Nigel, we’re headed in that direction and Obama is leading the way.

Why don’t you cons quit attacking Obama and go worship at the feet or your heroes, the Wall Street Bankers. You are supposed to be budget hawks, yet you are against closing overseas tax-havens and loopholes. You are supposed to be fiscal conservatives but you are all for Banks charging exorbitant interest rates, which by the way affects our national debt too. If they can charge individuals they can also write their own checks at taxpayer expense, which they’ve done with the bailout. You cons are so dreadfully hypocritical as well as stupid: your hearts bleed for those who rip you off and you believe their nonsense about making them be fair being equivalent to being “anti-business”. That is the oldest snow-job in history and was tried by the banks when called on the carpet for their role in the Great Depression. They are still doing it today (using deliberately contrived complexity to hide their misdeeds) and you cons fall for it. But then you turn around and blame the average American who has either lost his or her job or whose back is to the wall…you turn on people who abide by the American ethic and try to be responsible and you side with the Wall Street pirates.
I guess all your rhetoric about being fiscally conservative and putting “America first” is all just a con-job (pun intended) to cover up the fact that you are reactionary lickers of Wall Streets’ boots and you hate the American people and blame them when they are victimized, calling them stupid or greedy or whatever name you can think up. It is easy to see that you cons are not concerned about the American people. You are a cult of self-worshippers, fat-cat worshippers and addicted to raw power with no ethical principles behind the power. You are not hard to figure, but you sure can twist facts and slander and be underhanded in the service of your dismal Republican party. Knee jerk ideologues, not American or patriotic.

Do we also have a right not to be ripped off by our government?
****************************************
When you consider that the these banks charge the merchants a fee each time accept a credit card, and to cover that fee they raise their rates, so that even though I do not use a credit card I am paying at least 3% more than I should, who is ripping off who?

“Why don’t you cons quit attacking Obama and go worship at the feet or your heroes, the Wall Street Bankers.”
Actually, BOTH Bush and Obama bailed out the Wall Street bankers. Part of the reason for Tea Parties was to protest the government picking and choosing which industries to help and which to allow to fail. Turbo Tax Timmy Geitner is such a Wall street insider that Obama forgave his tax discretions to get him on board to deliver the money.
If you don’t think it is to the Democrats advantage to keep you poor and in debt then you really do not understand how Washington works.
I still have not seen anyone addressing the root of the problem, some states have lax or no USUARY (google the word if you are not familiar with it) laws and. They are able to entrap customers all over the country, even if your state does have these laws on the books. You cannot fight their state’s lack of regulation.
Delaware, Biden’s home state is one of the worst. You are once again putting your faith in the foxes to guard the henhouses.

Sorry, should read:
Turbo Tax Timmy Geitner is such a Wall Street insider that Obama forgave his tax INdiscretions…

There are some in our government who do not want this legislation passed so the everyday american can continued to get ripped off. That’s what makes our system “great.” Unfortunately many americans are foolish and impulsive and I feel a protective credit card bill is good for the people. The mob used to extort money from people. Why have we let the credit industry do the same???

Posted by: gjkotw01 | May 9, 2009 1:46:43 PM
________________________________________ Like I said. I bet you are a cc stockholder!

I have searched the constitution from front to back, and I have failed. Failed Miserably. I can’t seem to find this “right” in there. Can some one please tell me where in the constitution this “right” is? I also would like to know who thinks that the Credit Card companies are forcing people to use these damnable plastic cards.

Obama wants us to spend as wildly as he does just to boost the economy–it makes him look better.
He knows if Americans can’t use credit cards they won’t spend.
Obama is urging us to charge and go further into debt. But he’ll look like a hero getting rid of those nasty fees.
Yes We Can—now go out and use your credit card to help BO.

Why can’t people simply take responsibility for their own actions? Why do we need Obama/govt making laws regarding what banks can charge?…….If you don’t want to deal with all the fees — don’t use credit!! It is NOT an entitlement! I am sure there are people that use credit cards for good reason, but the majority of people use it on stuff they don’t need — extra clothes, electronics, dinners out, keeping up with Jones’. No one makes a person use a credit card — people choose to use this product and it is with the understanding that it’s a loan – to be paid back on time. When you make that choice — you should take responsibility beforehand and understand how the process works. It is called being responsible — and we’d be a lot better off as a country if people would start taking responsibility for their own actions.

Hey garcia. It seems you cannot argue on points I made so you allege that I am a CC stock holder. Sorry to disappoint you but I don’t hold any stocks period. I am just sick and tired of the kind of capitalism that does not reward responsibility, innovation and proper management but instead keeps rewarding the greedy, the irresponsible and the crooks. Without government interference I have managed to keep the credit card companies in line by not accepting credit cards with a ridiculous interest rate by not accepting credit cards that charge an annual fee unless they offer some real incentives and by not allowing them to gobble too much more than what I have spent on items. In fact I am not even their ideal client but I am not complaining. What bothers me is the government deficit more than the credit card debt of the irresponsible. It would not be my priority. Right now the highest priority would be to secure the nuclear WMDs from the volatile region of the world before a situation worse than 911 takes place. My next priority would be to see a quick end to the war in Afghanistan so that the brave men and women can return home and the final priority would be to spend responsibly to stimulate the economy but at the same time reduce the deficit. The rest is just trivial and cannot be made a priority.

Finally, we have a President who is standing up for the consumer.
For those who object to these regulations for the credit card companies, remember less money spent on credit card interest rates by consumers means more money freed up to buy goods. And this in turn will help the economy which is good for all of us.
=====
Now, when we can get him to think that way in terms of taxes and expenses like cap and trade, we’ll be doing fine.
He doesn’t want the credit card company making money on consumers who volunteer to work with them, but he is more than happy to have the government take your money and give you no choice.

Thank you President Obama, many posting here are paid for by lobbyists, with credit card interests in mind. We need you sir to take back our country from the cooks and liars that call themselves businessmen/women, but their just down right crooks.

Two ways to get back at the credit card companies…use them as little as possible – and – pay them off as soon as possible, down to $0. This does suck in that the banks are taking out their stupidity in offering credit cards to every idiot out there on those of us who try to pay on time.

Please dont listen to these people in the media, especially this jack..a tapper….this is a man who has been supporter the financial industry from the time they dug him over here at ABC…the bill is called HR1207…it is a bill intended to overhaul the Federal Reserve…this is the bill that needs to get passed first!!! PROBLEM IS THAT IT IS BEING SPONSORED BY THE REPUBLICANS NOT THE DEMOCRATS…WE ARE BEING CONNED YET AGAIN..I SUPPORT THE DEMS, BUT FACT IS WE ARE BETRAYED.

Whatever Obama keep dreaming that youre going to keep the bill collectors (and everyone else in corporate including banks and car companies) from ripping us off while we have no job in the meantime and dont extend unemployment or anything. Just keep giving money to big biz and corporate while both of you give us the shaft. Obama is about as much your friend as an overdue mastercard bill collector.

Credit card ‘rip offs’? WHAT ABOUT ALL THE GOVERNMENT RIP OFFS THAT ARE GOING ON AND THAT HE’S PUT INTO ACTION? THE TAX PAYER HASN’T SEEN ANY OF THE MONEY HE’S BEEN THROWING AROUND LIKE TOILET PAPER TO BIG BUSINESS AND EVEN ABROAD! RIPD OFF? HE’S THE BIGGEST RIP OFF!!!

If Mr. Obama REALLY wants to save the country some money how about pull out Iraq and Afghanistan and save us $600 billion dollars a month instead of $17 billion? The President is penny-wise but pound foolish!

Blah, blah, blah…and the top campaign contributor to Joe Biden is a credit card company.
Here is the only legislation I want regarding credit cards:
The interest rate on a credit card can only be 3% (annual) above the Fed. rate.

Try to imagine the financial stranglehold (aka the poor house) the federal government will be in next year tax-time when 10% of the unemployed residents of the USA dont pay income tax because they have no income to report. You think the government need money now? Ha! Dont make me laugh. Send me a posting for a “green job” thats hiring! I dare you. At least if someone is collecting unemployment they can take tax out.

Here come the defend anything to make a quick buck GOP losers.

Credit card issuers will move offshore and try to circumvent these laws.. they’ll collect billions before they can be shut down..
And.. don’t think for a minute Joe Biden isn’t hot about this..

Ha ha ha ha! All the rich Republicans whining, what else is new?

“The latest Rasmussen Reports national telephone survey [May 3] found that 40% would vote for their district’s Republican candidate while 39% would choose the Democrat.”
That’s only the third time in five years of polling that the Republicans have led.
And how do you think turnout is going to be in 2010? Think all those starry-eyed juveniles who flocked to the polls for Mr. Cool are going to show up to vote for some congressman they can’t even identify? Rest assured, GOP voters will be there, bright-eyed and bushy-tailed.

Last week, Democrats fell to their lowest level of support in the generic congressional poll in the past year while Republicans reached their high water mark.
Over the past year, Democratic support has ranged from a low of 38% to a high of 50%. In that same time period, Republicans have been preferred by 34% to 41% of voters nationwide.
During calendar 2009, Democratic support has ranged from 38% to 42% and the Republican range has been from 35% to 41%.

Please allow me a slight correction: it was June 22, 2005.
“’I assume that the war in Afghanistan is over, or is the contention that you have that it continues?’ she said to a reporter.


“A few moments later, she said: ‘This isn’t about the duration of the war. The war in Afghanistan is over.’”
So by all means, ask her why she supported the recent escalation. (You’re in good hands with Pelosi, that’s for sure.)

The “ruling class” (Washington and Wall Street) are doing a little dance. The President and Congress “spank” the banks while they pour hundreds of billions of dollars at the 19 biggest banks in the world – many of them are also credit card issuers. The spankings are meant to look tough. Wall Street pretends like these “spankings” hurt, but the fat cats know they mean nothing because they have already reacted and pushed rates and fees through the roof. Washington looks like the savior. Meanwhile, Wall Street takes those hundreds of billions of dollars of bailout cash and instead of lending, prop-up its own assets – stocks, bonds, etc. Wall Street wins. Washington wins. For God’s sake America, don’t be part of this disgusting dance. The one thing both Wall Street and Washington fear the most is a that Americans will finally say enough of this dance and pull their savings accounts, checking accounts, CD’s, etc from these banks. It is time to say enough!

Obama put in a thumb and pulled out a plum and said “look, what a wonderful president am I!” He has a finger in every pie so government will ultimately have control of all these types of agencies.

Obama is only helping the bug business and the investing class. What about the middle-class? WE ARE IN A DEPRESSION.

Remember people – we paid for Obama’s campaign picture of AF-1 with Lady Liberty in the background. How much did that cost us? >$350,000. Who is ripping off whom? I’m doing my part to stick to the CC companies. I don’t use them! Why create more laws that we know that will have unintended consequences. It’s not “if”, but “will”. Be careful each and everytime you ask the government to do something for you that you should be doing yourself.

No issue that credit cards have taken advantage of many citizens but still this is just another move by the Administration to move toward socialism.
Telling auto manufacturers, banks,hedge funds ,credit cards,bullying health care companies is a whole lot of involvement by the Washington brain trust that in the long run we may regret. Not at all anti the President just worried about much business will tolerate before taking it our on us in some fashion or other.

Fair is very subjective. A lower limit is described as fair, but a year later a lower limit would be fair. Banks LOSE money on credit card LOANS all the time. Bankruptcy courts invalidate the “credit contract” every single day. Fair requires honesty and Americans need to pay their debts. Straighten up the whole system or leave it alone. Otherwise is will not be “fair” and banks losing out in the long run does not help America.

Obama needs to set up a new bureaucracy to help us all balance our checkbooks too.

I think credit cards are evil. Mine keeps making me pick up bar bills for buxom lasses, and forces me to stockpile ammunition. I hope President Obama can save me.

How many people complaining about their credit card balances donated money to Obama’s campaign through the internet using… their credit cards?
I wonder if the FEC ever looked into the donations made with untraceable pre-paid credit cards. I wonder if this legislation will touch on this aspect of credit card use? Hmmm… doubt it.

IS THIS ANOTHER ACTION THAT THEY WON’T HAVE TIME TO READ FIRST BEFORE SIGNING IT?

I should have said “dollars horribly devalued by inflation.” You get the picture.

Inasmuch as the unemployment rate just hit 8.9%, now is a good time to remember this:
“In pushing to get his stimulus package passed in Congress, Obama’s economic team said that without the federal spending jolt, the unemployment rate would hit 8.8 percent by the last fiscal quarter of 2010. With the package, his advisers argued, the unemployment rate would only reach 7 percent.”
Believing in these people is a fool’s game.

Fascist Hyena: Speaking of being a fool to believe in, once again you are deceptively quoting:
“The advisers acknowledged, though, that their estimates could be off the mark. “There is the obvious uncertainty that comes from modeling a hypothetical package rather than the final legislation passed by the Congress,” they wrote in a memo. “Our estimates of economic relationships and rules of thumb are derived from historical experience and so will not apply exactly in any given episode.”"
The last 8 years have driven home how much we can trust Republicans, thanks.

What kind of economist would you expect NPR to talk to? Why don’t they interview one of the economists at the Congressional Budget Office who said in January that the recession would end in the second half of this year if there were no stimulus at all?
How can Obama’s spending have prevented the economy from collapsing if the great bulk of it hasn’t even occurred yet?

“What kind of economist would you expect NPR to talk to?”
-now now. You know how indignant you get when we dismiss Fox News.

“[the end of] every recession is preceeded by gains on the stock market…”
That’s true. It’s also true that every recession ends, most of them after about ten months, and every single one of them without anything remotely like the government borrowing and spending that is taking place as we speak.
Be careful about the stock market gains. On average, after a huge drop in the market there are four “fool’s rallies,” or “bear market rallies” that peter out before a genuine bull market returns.
When the Democrats took congress the Dow was over 13,000 (that’s when I cashed out). It will be many a long year before you see that again–it will take a gain of over 50%. And if you do realize gains, you’ll be taxed at Obama’s rates, so add in a nice premium on what you’re actually going to need.
And if the gains occur on securities held in your IRA or 401(k), when you withdraw them you’ll be taxed at Obama’s ordinary income tax rates.
Save it up, folks–you’re gonna need it.

I don’t get at all indignant when you dismiss Fox News, and I can’t recall citing them as a source. But at least the government and the taxpayer aren’t involved in their operation.

“When the Democrats took congress the Dow was over 13,000″
It was a bubble. It wasn’t real.

“The plan is for the economy to turn around before inflation sets in.”
Understood, but does the plan account for lower economic growth than normal? Lower tax revenues than normal (due to escalating unemployment and flight of employers to other countries)? An oil shock? Another war? Another terrorist attack?
Or does it make a lot of rosy assumptions?
My bet is on the latter.

“So they lanced it like a boil to teach the rich a little lesson.”
Hey it all started to unravel while Bush was still in office. They knew it was going to blow and tried to convince everybody that everything was OK long enough to get McCain in but they didn’t make it.

“The plan is for the economy to turn around before inflation sets in.”
The plan is for the economy to turn around before the next election sets in.

“All the people who try and blame the Democratic congress for the downturn in the economy want to overlook that the reason the Democrats swept the mid-term elections wasn’t just Iraq. Americans everywhere were greatly concerned by many bad signs in the economy. ”
The corruption and incompetence in DC played a much greater role. The public was split on the economy in general but I will bite. What signs do you refer to?

“Weak dollar, massive job losses overseas, trade deficits, large cost of living increases, skyrocketing energy costs, a healthcare crisis”
“Sharply differing views on the essential issues tells a large part of the story this [2006] election. When deciding which candidate to support, more voters today said political corruption (41 percent) was extremely important to their vote than said the economy (39 percent), the issue of terrorism (39 percent), the war in Iraq (36 percent), values issues (36 percent) or illegal immigration (30 percent) was extremely important.
Those saying corruption was extremely important to their vote backed the Democratic candidate in their House district by a 60 to 38 percent margin.
Economy voters favored the Democrats by 20 percentage points, and Iraq war voters backed the Democrats by over 20 points.”
So, if we accept your list then how are we doing since 2006?
Dollar is weaker.
Trade deficits have been an issue for decades.
Jobs just disappear now.
Cost of living (arguable that was an issue in 2006) is somewhat stable.
Energy prices suppressed by the recession but we all know they are going up again.
Health care has been a crisis for decades (and was mitigated in 2006 by the prescription drug bill) but we are promised a solution soon. Way to early to tell if we will get one that will work.
my two cents.

Last week, Obama attacks “big coal”. Two weeks ago, it was the banks, this week, it’s Obama’s attack on the “big credit card companies”. Obama and the socialists do not want to help you! As with the banking industry, health care, the auto industry, etc.. Obama’s goal is “Big Government’s” control of the credit card companies and eventually, all companies. Eventually, this means control over you. Wake up America! Google “Venezuela and Cuba” and you will see how socialists operate. Step by step…

Deceiving the american people will only last for a season.

Deceiving the public has been a mainstay of politicians and advertisers for decades.. we want to be deceived.. we are suckers for melodrama and easy ways out.

shoo be doo op do op

The show horses in Winterthur and Brandywine live better than 80 percent of U.S. humans.

Good One.. HMD818..
They are good horses.. hehe

CHANGE MEANT DECEPTION!

R.Pfau – you seem to like the word “deception”. So far I haven’t seen any deception form the current administration but when I look at the prior one, “deception” seemed to be the modus operandi. Consider the exploitation of the tragedy of 9/11 as a means to further the Iraq agenda; the the whole non-existent WMDs; or wire-tapping Americans; or torture; or outing a covert CIA operative; or hiding the Iraq war costs; and the list goes on. Half the stuff we don’t even know about. The highly corrupt Bush administration made “deception” a fine art.

Did I MENTION
AIG Bonueses…..OOPS DODD DID IT and Obama didnt even read it.
Bailout the auto makers…still going bankrupt…..Whos money was that?
Government buying privtae stoc in banks?
Welcome to Venezuela.
Shaking the hand of the dictator Hugo CChavez and laughing and sharing a book?
You all know Chaves spoke in Iran and said….”the end of America is near…praise be alla!”
But Obama and him are doing the exact same things to banks and layghing it up.
ALL in 100 days…..
At least Bush wasnt the “worst ever” for very long….Thanks to the black Jimmy Carter.

it all boils down to one thing, YOUR actions…if you don’t like this or you don’t like that then (through your actions and not complaints) make a difference…examples, don’t like “franken food” stop buying it, don’t like getting screwed by credit card companies leave them, in favor of “chem-free” foods? support them by buying their products with the money you save from cutting out the alternative…stop giving your hard earned money to places/things you are unhappy with and they will rethink how they operate their outfits…money doesn’t buy you everything, but it is what THEY are after so withhold it and watch them dance to get it back… don’t wait for the other guy to do it, that will just prolong what needs to be done…my point is complain all you want, but stop feeding the same beast your complaining about…you have ALL the control and might not even be fully realizing it…you can still have/maintain the quality of life you want, you just need to be a little creative about it…it’s not just the presidents or politicians decisions that make this country what it’s become, it’s MOSTLY the citizens decisions because we outnumber the president and politicians (what 10,20,30 times over?)…blame and put down the president,but remember he has millions of people to be responsible for not just you and on top of it, a quarter of these citizens or more use the system to find any loophole they can to get more of the “piece of the pie” than they should be entitled to…the MOST change will come from those types of people learning to grow up and taking responsibility for themselves, but chances are we will all turn blue in the face and drop dead waiting for that to happen, so things need to be put into place so there is NO choice BUT to stop playing games…i can come up with at least 4 people off the top of my head that i know get “benefits” from the state yet are fully capable to get off their butts and contribute…i’m sure if i tried i could find a way to do the same, but like i said it’s a CHOICE…i don’t hate “the player”, i’ve got my own life to live, i blame “the game” and how it’s set up to allow this to go on….there’s your more jobs, keeping up on all those cases…go to their houses, whatever it takes to weed out who really needs the charity and who doesn’t…if a guy receives disability benefits for a bad shoulder, yet he’s hiking old water heaters up from his cellar or climbing up a tree like a monkey to cut down branches, you decide, should he really be staying home collecting? and if it is true about the shoulder isn’t their another line of work he could choose? my aunt has cerebral palsy and she works full time doing what she is capable of doing…no one should be left homeless,starving etc, and people that need help shouldn’t have to put up with stereotyping due to others who’s main occupation IS to screw the system…americans need to ask themselves what they are REALLY after while all this squabbling is going on…is it about money, is it because they have an ax to grind,etc…no matter what it is though until there is another planet to move to, we all have to reach a middle point AND do whatever we can together to destroy the “cancers” that are killing us slowly…what is the point in living if all you are is miserable most of the time about some thing? find a quality of life where you aren’t as tangled up and dependent on what’s going on “out there”..take back your power and what power you do give out, be conscious of who,what, and where your putting it out to…

Wait until you get your next credit card bill and 45 days later your interest rate goes from 8% to 12% then 45 days after that from 12% to 18% then 45 days after that from 18% to 25% regardless of if you paid on time or not. NOW IT WONT MATTER. Your a fool if you think it wont happen, regardless of your credit history – Obama has given the green light to credit card companies to raise interest rates using the 45 day rule as an excuse!