What more generous boost to the pay-day loan industry could Congress offer than a government shutdown, when so many Americans live paycheck to paycheck?
First it will affect the government employees, particularly those in the early years of their careers, who might not have a whole lot in the way of liquid savings, and those who have high fixed costs like mortgages, student debt, or children in college.
And then it will affect all those who depend on their patronage, including a lot of small businesses and their employees.
What a brilliant plan for forcing so many Americans into the hands of the pay-day loan industry!
And most of us are aware how difficult it will be for the latter group to dig themselves out. The government employees may eventually get paid -- they'll still owe the pay-day lenders exhorbitant interest, for the month or two. But it will be the second group that falls into the clutches of the legal loan sharks.
Brilliant. Simply brilliant. I wonder what the campaign contribution picture looks like.