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It's bad enough that the federal government is collecting and searching all our e-mails and phone records. Now, thanks to the Dodd-Frank bill championed by the Democrats and signed into law by President Obama, Big Brother is now collecting our credit card data as well. Dodd-Frank established the Consumer Financial Protection Bureau (CFPB), which is engaged in the following activities:
CFPB officials are seeking to monitor four out of every five U.S. consumer credit card transactions this year — up to 42 billion transactions – through a controversial data-mining program, according to documents obtained by the Washington Examiner.
The U.S. Census Bureau reports that 1.16 billion consumer credit cards were in use in 2012 for an estimated 52.6 billion transactions. If CFPB officials reach their stated "performance goal," they would collect data on 42 billion transactions made with 933 million credit cards used by American consumers.
In addition, CFPB officials hope to monitor up to 95 percent of all mortgage transactions, according to the planning document.
CFPB Director Richard Cordray (who was initially appointed by President Obama in violation of the Constitution), said 110 banks were being monitored, though he only named five during a congressional hearing on the matter. As is the norm with this administration, few details emerged about the CFPB's credit card mining:
“Why don’t you just level with us?” [Rep. Sean Duffy (R-WI)] told Cordray after the CFPB leader repeatedly refused to say how many credit cards are being reviewed by his agency.
“We’ve been asking these questions over and over and over again. You come in and stonewall, you try to explain, but never do we get answer. Never does America get answers,” Duffy told Cordray.
Duffy is right on the money. During Barack "Stonewall" Obama's administration, we never seem to get complete answers about anything, at least not voluntarily. I guess the new rule is - the federal government is allowed to know everything about what we the people are doing, but we aren't allowed to know much about what the federal government is doing. Big Brother likes to watch you, but he doesn't like you watching him. Somehow, our "government of the people, by the people, and for the people" doesn't feel like that anymore. It feels more like a budding police state.
This latest federal indignity further illustrates my problem with the advocates of big government. These advocates exist on both the right and left, but mostly on the left. These people want the government to takeover health care, the financial sector, the market, education, rearrange wealth, regulate the bejesus out of everything and everyone, etc. You name it, and they want the government to take it over and/or control it...and then, these very same people whine about their liberties being taken away, their lack of opportunity, their shrinking wages, high prices, etc. They complain about the very things their political beliefs bring into being. The disconnect is nothing short of incredible. It would be like Adolph Hitler wondering where all the Jews went.
Another day, another freedom lost. How much longer are we going to tolerate this ? Sadly, I think we may tolerate it forever.