Thank you Mr. Obama.  You continue to bleed the citizenry dry.  The Democrat controlled congress passed the new Credit Card Accountability Responsibility and Disclosure (CARD) Act of 2009 commonly known as the Credit Card Act bringing a new level of cost.  Signed by Obama, now its law and takes effect August 2009.  Yes banks will have to pay and just WHO do you think they will pass the fees to?

This is another example where the Democratic Party controlled congress and Executive branch create new legislation without input from the people or the businesses affected by the legislation. 

What does this useless legislation force banks to do?  On the surface it seems beguine.  If you have a credit card your bank must issue to you your statement 21 days before the bill is due.  That seems OK enough.  However in practically, it ALSO includes all “open-ended” lending.  Lets say you have a line of credit with your bank or Credit Union that is a multi-featured plan that allows you to repeatedly borrow.  This legislation forces your plan to be monthly.  But what if you pay bi-weekly when you get your pay-check or monthly on a date that fits your other bills to make it easy for you to make your payments.  The new Credit Card Act forces you into the same bucket with the credit card.  Say goodbye to your flexible payment plans!

Well the Obama led Democrats once again prove that they believe in a socialistic model of “one shoe fits all” which is their total agenda for ALL of us.  Forced EQUALITY at any cost!  This is the very cornerstone of Marxism.

This law was hastily written and signed into law without input form groups outside the legislative and executive branches.  I once thought that it was the result of the “Law of Unintended Consequences” at work here.  Now I am convinced that the Obama Democrats are on a mission of complete control by the Federal government with the Democrats in the power position.  Don’t sit idly by while our freedoms stolen away – act!

YOUR ACTION ITEM:  Write your representative and your senator. Tell them this is a bad law and either amend it or repeal it.  Links are provided below.  The sad truth is that it is very hard to have congress remove legislation.  We must vote these entrenched incumbent self-serving thieves out of our government.

VOTE AGANIST INCUMENTS!  Follow me on www.Tweeter.com/voteagainst 

Contacting your House representative:  https://writerep.house.gov/writerep/welcome.shtml
Contacting your Senator: http://www.senate.gov/general/contact_information/senators_cfm.cfm