By ayarrow on September 29th, 2007

We’ve been drawing down moneys supposedly meant for Social Security… Technology drives medical costs, but we’ve allowed it. Medicare gives a lot more emphasis to procedures, not simple thinking. If we could shift the rewards in the system… We all have the belief that medicine can solve everything."

"In today's dialogue involving citizens and national and state leaders in Manchester, NH, discussion turned to the causes of America's $9 trillion public and intragovernmental debt. People suggested that causes included:

"We've enacted new major entitlement spending programs like the Medicare prescription drug program."

"The budget is on auto-pilot and there's too much partisanship."

"We’ve made government the steward of all our funding, and we’ve lost a lot of personal responsibility. Government is out of control, and we are partly to blame for allowing it."

"We’ve become a society of dependents, instead of self-reliants… And we overtreat patients."

 

 


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The Effects

On October 1st, 2008 Payday Loan Advocate says:

The payday loan industry is in danger because there are politicians who wish to wipe out the entire industry. But that is not what is best for the people. For instance, in Georgia, the bankruptcy filings, bounced checks and foreclosures all skyrocketed after the cash advance product was done away with. With no disregard for these negative statistics, following the closure of payday loans in these states, several other governors continue to try and follow suit. Top national politicians are now stepping out in hopes of wiping the industry completely off the map. Should such politicians succeed, there is a big possibility that there will be increased unemployment rates, more debt, more foreclosures and an even more damaged economy.

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What's the exact root?

On October 3rd, 2008 Payday Loan Advocate says:

What’s really the accurate cause of rising debt? I don’t think Payday Loans is the main root of this problem, this isn’t the valid reason why debt is growing. It is easy to get into trouble if you take a chance on something without being informed, or take action based on faulty information or assumptions. Currently, the pros and cons of payday loans are being hotly contested, and just what is in the future for the industry. Some of our leaders, from both sides of the aisle, have even enacted legislation at the state and local levels that makes it difficult to get a payday loan if you need one, and some have banned them outright. Still others, such as Barack Obama, are looking to get rid of the industry altogether; which is based on the idea that payday loan lenders are nothing more than legalized loan sharks, which is just outright faulty logic. This is the time to educate yourself and your friends so all can preserve their right to financial independence.