We need a credit card bailout. Sure consumers need to try and be financially responsible, but after a decade of rising health, energy prices,(Fuel is 400% from 8 years ago, electricity has over doubled) and other basic costs of living, Wages have moved relatively slow. As corporate America and shareholders profited, little has been put back in, just trying to find more ways to cut costs(usually labor and benefits) to keep increasing profits for the elite.
Americans have had to use the credit (which was readily available by the way) for many basic needs. Our government keeps pouring money in to bailout financial institutions. How about a middle class bailout. This mess has been put on our backs for the last decade and now we are expected to keep working and paying taxes so the elite can stay in the top 5%.
Bailout middle class America, Bailout the credit card debt we have used to survive. This would immediately put more disposable income in the majarity of American’s hands. The Credit card companies who have basically been raping Americans at 20+ % interest can go to hell. Let legitimate companies who want to make reasonable profits emerge. Please bailout Americans, Do not bailout the companies without a direct effect on Americans balance sheets!
More about the fast approaching credit card disaster.
http://redtape.msnbc.com/2008/10/how-credit-card.html?cid=134693803#comments