Build Tomorrow - Another Day Of Life

Today I will take a break from my “The Road to Today” series which I will pick up again next week.  I decided today I will recap some of the big stories, and my thoughts behind them.  Beginning this week and every Friday you will see this, my weekly recap.  I will highlight some news stories and my thoughts behind them.

George Bush’s approval rating the lowest in history.  This story reports that George Bush has made history.  Not by some huge act, but by having the lowest approval rating on record since they began tracking approval rating in the 1930’s.  The article compares his to the presidents since FDR.  In the article they detail how 71% of Americans disapprove of the way the president is handling his job.

It’s not surprising, considering that the entire cross section is in disapproval state.  In a recent AP-Ipsos poll 71% of American also disapprove of the job Congress is doing.  Why?  Most likely because our elected officials have become so politically charged, that they are spending more time decrying the policies of the others than doing the work of the American People.  I am a proud American.  Yet I have ZERO faith that the government is working to help me.  This is a governemt for the people, by the people, yet who is really listening to the people?  Change is needed.  Remember that when you head to the polls this fall.

House Members can lease a car at your expense- This story in the NY Times really made me mad.  Did you know your House of Repetitive member can lease a car, get insurance, and get gas, tags, and everything at your expense?  Yes believe it or not, they can get whatever vehicle they want at a taxpayer’s expense.  They pay ZIP!  The Senate on the other hand forbids this practice.  They range from regular gas efficient vehicles to Cadillacs. No wonder they have a 29% approval rating.

FED to propose new Credit Card Rules- Also from the NY Times, but also in the Washington Post, the Fed is planning to propose new rules to assist consumers from penalizing Credit Card Rates, and what they are labeling “unfair and deceptive” practices.  Of course the organization representing credit cards is crying foul, and threatening to fight the rules, and not allow credit cards to raise interest rates on outstanding balances and would disallow late fees if the bill was mailed to the consumer fewer than 21 days before the due date.  The new rules will also limit things like negative payment hierarchy, the practice of paying off the lowest APR charges followed by the highest interest charges. All I can say is that it’s about time.  Lets’ all remember to thank the Carter Administration for helping this mess start.  Prior to the industry deregulation interest rates were capped, and banks didn’t lend money to individuals, only to S&L’s which had their own set of problems. Though if you look back to the days prior to deregulation it was a lot easier to pay your bills, wasn’t it.

While there are so many other things to report, that is my weekly round up.

~Another Day

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