U.S. Consumers Relying on Credit as Inflation Erodes Incomes
july 2011 by inboxnews
Consumers in the U.S. are increasingly using credit cards to pay for basic necessities as income gains fail to keep pace with rising food and fuel prices.
The dollar volume of purchases charged grew 10.7 percent in June from a year ago, while the number of transactions rose 6.8 percent, according to First Data Corp.’s SpendTrend report issued this month. The difference probably represents the increasing cost of gasoline, said Silvio Tavares, senior vice president at First Data, the largest credit card processor.
“Consumers, particularly in the lower-income end, are being forced to use their credit cards for everyday spending like gas and food,” said Tavares, who’s based in Atlanta. “That’s because there’s been no other positive catalyst, like an increase in wages, to offset higher prices. It’s a cash-flow problem.”
consumers
credit
cards
income
eroding
The dollar volume of purchases charged grew 10.7 percent in June from a year ago, while the number of transactions rose 6.8 percent, according to First Data Corp.’s SpendTrend report issued this month. The difference probably represents the increasing cost of gasoline, said Silvio Tavares, senior vice president at First Data, the largest credit card processor.
“Consumers, particularly in the lower-income end, are being forced to use their credit cards for everyday spending like gas and food,” said Tavares, who’s based in Atlanta. “That’s because there’s been no other positive catalyst, like an increase in wages, to offset higher prices. It’s a cash-flow problem.”
july 2011 by inboxnews
Former federal employees still receiving taxpayer credit cards
july 2011 by inboxnews
In what appears to be a gross Obama administration oversight, former Bush administration political officials are still receiving taxpayer-funded credit cards in the mail.
Former DOL official Don Todd, who used to oversee the Office of Labor-Management Standards (OLMS) told TheDC that the government sent him a ready-to-activate taxpayer-funded credit card.
Todd, who now works in the private sector at nonprofit Americans for Limited Government (ALG), destroyed the card, but he’s shocked at how he still got one in the mail, years after he left his politically appointed government post. Todd’s last day at the DOL was Jan. 20, 2009. The DOL is still sending him credit cards.
Jokingly, Todd told TheDC that this oversight reminds him of former President Ronald Reagan’s comments about how a government bureau is the “nearest thing to eternal life we’ll ever see on this earth.”
“A government job is a gift that keeps on giving,” Todd joked.
obama
government
inept
credit
cards
Former DOL official Don Todd, who used to oversee the Office of Labor-Management Standards (OLMS) told TheDC that the government sent him a ready-to-activate taxpayer-funded credit card.
Todd, who now works in the private sector at nonprofit Americans for Limited Government (ALG), destroyed the card, but he’s shocked at how he still got one in the mail, years after he left his politically appointed government post. Todd’s last day at the DOL was Jan. 20, 2009. The DOL is still sending him credit cards.
Jokingly, Todd told TheDC that this oversight reminds him of former President Ronald Reagan’s comments about how a government bureau is the “nearest thing to eternal life we’ll ever see on this earth.”
“A government job is a gift that keeps on giving,” Todd joked.
july 2011 by inboxnews
San Francisco Supes approve city ID cards for illegal aliens
november 2007 by inboxnews
Immigrants, homeless persons and other residents of San Francisco who often encounter difficulty receiving common services were given respite today in the form of citywide identification cards, according to Supervisor Tom Ammiano's office. By a 10-1 vote,
San
Francisco
Supes
approve
city
ID
cards
for
illegal
aliens
november 2007 by inboxnews
150 fake ID cards confiscated from suspected invaders
november 2007 by inboxnews
Six suspected illegal immigrants were arrested after police said they had 150 fake identification cards. Belmont County deputies pulled the van over on Interstate 70 East near Morristown late Friday for a traffic violation. A search of the vehicle yielded
150
fake
ID
cards
confiscated
from
suspected
invaders
november 2007 by inboxnews
Illegal immigrants issued ID cards
october 2007 by inboxnews
Tom Fitton, president of the conservative Judicial Watch, says the cards "raise the specter of local governments conspiring with illegals to help them stay here." "In the least, they undermine federal law," he says, "and at worst, they violate the law."
Illegal
immigrants
issued
ID
cards
conservative
Judicial
Watch
october 2007 by inboxnews
Journal Inquirer seeks names of New Haven ID card applicants
september 2007 by inboxnews
MANCHESTER, Conn. -- The managing editor of the Journal Inquirer newspaper is asking the state Freedom of Information Commission to order New Haven officials to disclose the names of applicants for controversial municipal identification cards. The ID card
new
haven
illegal
aliens
id
cards
september 2007 by inboxnews
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