All I can say is "Gasp", Robert Reich is wrong as wrong can be. His blog article... How Obama Can Convince Congress to Enact a Larger Stimulus, and Why He Must. Is just outrageously wrong.
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I have a suggestion Mr. Reich,
GO AFTER THE BANKS AND MAKE THEM STOP CHARGING INTEREST ON EXISTING CREDIT CARD DEBT FOR CUSTOMERS WHO ARE PAYING DOWN THEIR CREDIT CARD DEBT.
A credit card interest rate incentive program would create an impactful, instant and worthwhile stimulus package. It would create 15-25 billion dollars a month going to YOUR NEIGHBOR, YOUR PLUMBER, YOUR LANDSCAPER, YOUR LOCAL BUILDER, BEFORE the money goes back to the bank to pay down a debt, AND, it would involve NO TAXPAYER MONEY!
I am about the only one I know who is advocating the no interest rate credit card pay down program. I have virtually a 100% pay on time credit card history so I'm not advocating something that has penalized me the way it has penalized others who are paying horrendous credit card interest rates and treading water as a result.
We are being robbed of neighborhood money so that it can stay on Wall Street and be handed back and forth between Wall Street and the politicians they elect. Robert Reich, you are a sell out.
