Payday Pundit » economy

Today’s Democratic National Convention Theme: “Renewing America’s Promise”

Payday Pundit — Tue, 26 Aug 2008 16:48:42 +0000

Tonight’s featured speakers at the DNC will focus on the economy, detailing plans to grow the economy, creatw jobs and expand opportunities. The speakers will include Governors: Kansas’ Kathleen Sebelius; Arizona’s Janet Napolitano; Montana’s Brian Schweitzer; Pennsylvania’s Ed Rendell and (ironically) Ohio Governor Ted Strickland. Other speakers include PA Senator Bob Casey, Jr, former VA gov Mark Warner, and Senator Hillary Clinton.

Let’s hope they actually focus their efforts on helping people by creating jobs and expanding opportunities and not on limiting access to short-term credit as (in their words) “millions of Americans struggle to get by.”

Labor Dept report: 63,000 jobs lost in February

Payday Pundit — Tue, 11 Mar 2008 20:27:48 +0000

According to the latest Department of Labor numbers, 63,000 jobs were lost in February, with the financial services industry being one of the industries hit hardest.

While some industries, like construction, were victims of a market slowdown, payday lending employees were victims of over-regulation.

In states like Oregon and Pennsylvania, the payday lending industry has been virtually regulated out of business, leading to the loss of thousands of jobs (with health care, paid time off, and retirement benefits). Not to mention the elimination of a popular and regulated credit option for consumers.

Seems like we should be creating new jobs and providing access to credit, not taking both away.