Obama: Let Debt Collectors Call Cell Phones
How does President Obama propose to reduce America’s nearly $15 trillion debt? In small part, by letting the government’s debt collectors call our cell phones.
Buried on page 28 of the president’s debt plan is a proposal to allow private contractors collecting money owed the federal government to call debtors’ cell phones in their efforts to collect.
The proposal would require changing the Communications Act of 1934, which has been amended to ban such calls.
The idea of letting collectors hound us on our cell phones comes sandwiched at the end including letting states collect delinquent income taxes no matter what state the debtors currently live in, and another that reforms the way coal mine cleanup is funded.
In total, the president’s plan would reduce the federal budget deficit by $3 billion, according to the administration’s estimate.
Credit.com provides readers with unique insight, helpful tips and straight answers about their financial world. Our team of reporters and experts explore credit, loans, debt, saving, and identity theft topics, all designed to help you make smarter financial decisions. Visit Credit.com to sign up for your FREE Credit Report Card and find out where you stand today!
Sound Off...What do you think? Join the discussion...