May 9, 2009

President's Weekly Address: 'Credit Card Reform'

I'm feelin' our president in this week's message. I think that I have singlehandedly paid for most of the dayum bank bailouts with the interest and other trick payments on my credit cards over the past few years. This week the President recaps a busy week, from strides on fiscal discipline, to financial stability, to cracking down on tax havens and tax breaks for shifting jobs overseas. For his next big step, he calls for a credit card reform bill:

"Americans know that they have a responsibility to live within their means and pay what they owe. But they also have a right to not get ripped off by the sudden rate hikes, unfair penalties, and hidden fees that have become all-too common in our credit card industry."

What are your thoughts on the issues raised by Obama in this week's message?

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