Okay, so maybe the federal government isn’t opening a payday loan at your local strip mall, but the cash advances the government is giving to companies with our tax dollars is a little bit hypocritical, if not unsettling. It seems whenever I see the payday loan industry in the news it’s because politicians in states like Ohio and Arizona decide to create laws that restrict people’s borrowing rights.

They claim it’s to protect them from mismanaging their money, but how can they say that with a straight face? They’re basically saying it’s irresponsible for a working adult to borrow $200 in an emergency situation, but that giving billions of taxpayer dollars from these same working adults to CEOs while they fly around in their private jets is acceptable?

Why should we allow the government to tell us how to spend our money when they can’t balance the federal budget? Instead, they drive this country deeper into debt each year. Payday loans are the only means for some people to access cash quickly for emergency situations. In many instances people can get cash the same day they apply for it. As long as the loan is paid back on time, the fees are usually only around $15.00 for a $100.00 loan. The fees depend largely where you live because laws vary from state to state.

Until the government can manage their own money, I’m not going to let them tell me what to do with mine.

Tags: government bailout, payday loan, us bailout, us payday loan

This entry was posted on Sunday, November 30th, 2008 at 8:12 pm and is filed under Current Events. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.