Barack Obama: The Credit Card Candidate?
Posted by KC | Posted in barack obama, credit cards | Posted on 04-12-2007
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Presidential Candidate, Barack Obama, has spoken out against credit card companies:
‘‘The truth is, our middle-class families are not going to be secure so long as they can’t get out of debt,’’ Obama said Monday, sharpening the populist rhetoric of his presidential campaign. ‘‘If we’re serious about stopping Americans from falling deeper in debt, we’ve got to crack down on predatory credit card companies that are pushing them over the edge.’’
Obama pointed to studies showing that consumers have an average personal debt of more than $8,000, a load driven higher by credit cards. He said soaring credit card debt could turn into a crisis as big as the one in the subprime mortgage industry.
Now I am not saying that my debt isn’t my fault. The debt that I have accrued is 100% mine. But it’s good to know that a presidential candidate is interested in looking out for people like me to make sure that no one (and no credit card company) kicks me while I’m down.
I haven’t been close attention to the candidates just yet, but this has definitely piqued my interest.
