Passing The Bucks

Bama and the democrats are working on Credit Card Reform now, which is an effort to appeal to people who are irresponsible with their finances and get into trouble and then can't afford to donate to Democrat politicians.

Already the pundits are pointing out all the loopholes, but its not really a loophole if all you're doing is passing the buck. By capping interest rates on high-balance and high risk consumers, the Government forces credit card companies to find other ways to generate revenue. Companies do this by creating new fees on consumers who don't otherwise generate revenue for them - those who make payments on time, payoff the entire balance each month, or who maintain a low balance and typically pay for purchases in cash. In other words, people who live within their means.

Instead of telling people to take responsibility for their finances, the government wants to shift the burden to those who are responsible. This is the way it is with democrats. It's just another welfare scam. Why on earth should I pay for some idiots leather coat who works part-time at K-Mart? This is the kind of reform Bama wants. Hope and change and all that bullshit.

The biggest problem with democrat's entire ideology when it comes to the economy is that they believe so strongly in punishing success and bailing out failure. When you punish people for working hard you create a disincentive to continue to work hard. In the case of credit card reform, a lot of people will cancel their cards to avoid fees and reduce discretionary spending as a result. If you believe that consumer spending drives the economy and not government, this is obviously a bad thing. Even today democrats blame the Bush tax cuts for the financial crisis, which is total crap. The tax cuts led to unprecedented growth in the economy during the middle of the Bush years, and the economy only tanked when the corruption at the top of the mortgage lending industry led by government-affiliated financial institutions whose board members were heavily leveraged to democrat senators Chris Dodd and Barney Frank imploded.

Obviously there's a lot more to it than that, but the tax cuts are one of the very few positive things this country's economy had going for it, and Bama is about to raise taxes on everyone to pay for his garbage health care nonsense.

When are they gonna get it that all these entitlements have to sop or this country will self-destruct?

Probably about 2 years after it actually does.