Why would a payday loan company be interested in politics? When it is about this country's debt or the situations behind financial institutions, it becomes an important topic of interest for a payday loan lender to know about.
Without taking sides of which party says or does what, but more like a look inside at how things are run to give you a glimpse and you can feel free to choose your own side. If you are in debt or live paycheck to paycheck you may want to follow the political race for President. Political policies are very important to American finances this year.
The current administration started out working with some pretty big tasks without much success. When there is contention between the two parties to prevent legislation from passing, it is not just about the politicians who have failed, but the effect this failure has on the struggling economy of this country.
Excess household debt, which has been a creation of many years of living beyond one's means is a very large problem holding the county back from economic recovery. Mortgage companies, banks, credit unions, even payday loan lenders have been confronted, reformed and government managed in order to handle the American people's money more professionally and responsibly. But, debt is debt and until it is completely handled, the debt will grow fed by interest and longevity.
We live in a society where one person's spending of income is dependent on another person to earn income in order to spend somewhere else. Have limited spending will trickle into the other person's income and affect their spending as well. It is confusing and depressing.
Debt eats at income leaving less to go towards other businesses and the economic cycle drags on. Payday loan lenders see this first hand with their customers. Before this cycle can come to a halt, there needs to be some sort of additional help set up from the government. And here lies the stalemate between the political parties.
It is an election year. Big policies are being used as political board walks trying to get one party elected over another. Proposals are made, but with no compromise on the table, they are shot down and the country is left with no reform.
Could one answer be that the government needs to spend more to support the economy? Can there be cutbacks in government spending along with creating jobs and providing debt relief for the American people? Reducing the burden on Americans who are in financial trouble will improve the overall economy and the government needs to spend money to make money.
The tax cuts which were put in place over a decade ago by the Bush administration will be ending this year. The present administration had already attempted to put in place an extension to the tax credit but it did not involve all income levels. Needless to say, the extension was rejected and the year-end clock continues to tick away. What will the average person do if taxes increase sharply?
It is time for all of us Americans to pay close attention to the politics of our elected politicians. There is no room for stubbornness or pride to get in the way. A country run by egos who will side with parties for the sake of having each other's back is not going to solve the stalemate problems. People have to work together and compromise, agree to disagree, and fight for the people who struggle each day to be successful in their own lives. Doing so would reflect on this country's worth, both financially and patriotically.