Low income working families seeking to simply pay the bills confront an array of challenges these days. "Payday lenders" are taking advantage of a borrower's precarious financial state and profit from pushing low-income families deeper into debt and poverty.
So here we are, just a few short years past one economic Doomsday, and we're back to encouraging youth to make a career buying and flipping homes for profit. Not just any homes, but the still smoldering wreckage of the housing bubble.
A payday loan may seem like a short-term fix, but it's ultimately just another expense. In today's economy there are no easy answers for low- to moderate-income Americans struggling to pay the bills, but what will clearly never work is adding another high-cost loan.