Think there is anything good about it?
Senator Dick Durbin’s (D-IL) amendment to the Financial Overhaul Bill is set to go into effect in April that will allow Obama and the Federal Reserve to set the prices of debit card interchange fees.
That may sound like a boring topic, but consider this: because of Dick Durbin’s amendment, banks are about to restrict the number of and amount of daily debit card purchases you can make. That’s right. JP Morgan is considering capping your debit card purchases at $50.00 to $100.00 per purchase.
Like everything the socialists in Washington do, this will hit you right in the pocketbook. Not, of course, if you are one of those people who use Electornic Benefits Transfer cards, of course. But the rest of us will feel up. Right up where the sun don’t shine.
We can count on the East Coast Republicans to help either. In fact, we can count on them to make it worse.
Conservatives are, therefore, getting played by Republicans leaders in the House. Compounding that, House Republicans are making insignificant spending cuts and refusing to pick a fight over Obamacare. They do not, under any stretch of the imagination, want a government shut down. House Leaders know the only way to shut down Obamacare is to shut down the government and negotiate Obamacare out of existence.
You are going to lose your free checking, forced to either use a credit card or write a check for everything (or carry around piles of cash… Have you tried paying case for something lately?) The Repuglican Congressional “leadership” won’t do a damned thing because they don’t want to be left off King Barak’s “good list.”
Cut the defict? Forget about it. Balance the Budget? You have to be kidding, right?
Let’s call the 2010 election a start (and apparently not even a good one, since the establishment Repugs are pretending it didn’t matter.)