The big news about General Petraeus’ testimony before Congress came not from the General himself (what should we expect from someone hand-picked by President Bush) but from the Senators who grilled him. Each of the three contenders for President -- Hillary Clinton, Barack Obama, and John McCain -- was critical of current policy. But they all also spoke out against removing all US troops from Iraq.
Obama best summarized their collective position noting that “nobody’s asking for a precipitous withdrawal."
Later this month, these Senators will vote on whether to give President Bush $100 billion more for the wars in Iraq and Afghanistan. Peace activists and military families are demanding that Obama and Clinton lead a fillibuster on the funding request.
They note the war has already cost $3 trillion dollars and more than 4,000 American lives.
You can also check out my new article on Petraeus’ testimony which was published in Foreign Policy in Focus.
The Payday Loan Issue
Many politicians are no friend to the payday loans industry. In order to raise voter support they choose to ignore what is best for the citizens. Some states including, Georgia, North Carolina, and Oregon have completely driven out the payday loan companies. Politicians still choose to disregard the benefits of the industry even though statistics in these states show a spike in bankruptcy filings, bounced checks and foreclosures. Even though these negative statistics have come to light, several governors are still trying to follow suit. If the efforts to wipe the industry completely off the map prove successful, some possible repercussions might consist of increased unemployment rates, more debt, more foreclosures and an even more inapt economy.
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Obama and the Payday Loan issue
America and Capitalism are both based on the freedom of choice. We as Americans and Capitalists should have the financial freedom to choose how we use our money, and we should be able to choose where we get a loan. The fact that certain states are banning a financial resource such as the payday loan industry is ridiculous. These states are taking away the availability of a loan to those who need money quickly, who don’t have the credit to attain one from a bank, who only need a few hundred dollars loaned instead of thousands. Don’t let the legislation take away your financial freedom and vote for your rights as an American citizen.
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Payday Loans has been the
Payday Loans has been the prime target for corrupt politicians, from all sides, seeking an increase in voter support at the expense of what’s best for their citizens. Governors of several states including, Georgia, North Carolina, and Oregon completely drove payday loan companies out of their states. The negative effects of driving out payday loan companies from these states, appears to have not been what was best for its’ citizens. For instance, in Georgia, the bankruptcy filings, bounced checks and foreclosures all skyrocketed after the cash advance product was done away with. In spite of these negative statistics, following the closure of payday loans in these states, several other governors continue to try and follow suit. Top national politicians, such as presidential hopeful Barack Obama, are now stepping into the arena in hopes of wiping the industry completely off the map. Should such efforts deem successful, the possibility is very real for increased unemployment rates, more debt, more foreclosures and an even more crippled economy