Monday, April 11, 2011

Holger Asks Why #46: Obama's Federal Credit Card




Holger Asks Why...



Does anyone remember Barack Hussein Obama's "Credit Card Debt Relief Program" of 2010? This was where the President insisted that the nation's consumers and citizens be protected against unfair and extreme practices by the credit card companies.

This is what he said and what the legislation was about:



Mr. Obama told reporters that he told the executives "credit cards are an important convenience for a lot of people." He said he expressed concerns about rates that quickly doubled after starting at low levels and "a whole lack of clarity and transparency" in terms and conditions on cards.


Okay, so Holger asks why... Why is it that when Barack Hussein Obama submits a budget for this nation that there is nothing there that presents clarity and transparency in the terms and conditions of the spending included in that budget? In other words, where does that legislation have a easily understood explanation of what the spending will cost us all in interest payments to foreign lenders?

After all, it IS our money that pays the interest on that debt, isn't it?




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