this post was submitted on 17 Jan 2024
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The cost to overdraw a bank account could drop to as little as $3 under a proposal announced by the White House, the latest effort by the Biden administration to combat fees it says pose an unnecessary burden on American consumers, particularly those living paycheck to paycheck.

The change could potentially eliminate billions of dollars in fee revenue for the nation’s biggest banks, which were gearing up for a battle even before Wednesday’s announcement. Exactly how much revenue depends on which version of the new regulation is adopted.

Banks charge a customer an overdraft fee if their bank account balance falls below zero. Overdraft started as a courtesy offered to some customers when paper checks used to take days to clear, but proliferated thanks to the growing popularity of debit cards.

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[–] HubertManne@kbin.social 89 points 8 months ago (9 children)

I still don't get how folks don't love this president. All these things are great for typical folks like me.

[–] Coasting0942@reddthat.com 22 points 8 months ago (5 children)

Because it’s all tiny changes that don’t effectively help people. No big structural changes cause the billionaires managed to put a stop to that with their agents in the Senate. And so the average citizen is left to blame the person they see as the cause of it all, cause he’s the big boss obviously.

Citation: gestures at everything

[–] snooggums@kbin.social 21 points 8 months ago

The things he has done do effectively help people, but since he doesn't constantly brag about it people don't notice.

[–] HubertManne@kbin.social 13 points 8 months ago (1 children)

yeah still. I have never had so many beneficial things come out of a presidential term in my life.

[–] Coasting0942@reddthat.com 9 points 8 months ago (3 children)

Trump got us “free cash” and virus test kits. Bush got us “free cash”.

Obama got us crappy healthcare. Which he stole from Republcain Mitt Romney cause Obamacare is literally Republicans dream healthcare system.

Nobody remembers the starting circumstances of the Democratic presidents brought in to clean up Republican messes.

From my interactions with co-workers, it can be that simple. And also the trans trans trans are coming to steal your kids and wife. Diabolical

[–] HubertManne@kbin.social 14 points 8 months ago* (last edited 8 months ago)

yeah in particular obama was just getting the economy going at the end of his term by slowly raising interest rates and it was trump that railed for lower interest rates to overheat the economy just before covid and is the main reason rates had to be raised at break neck pace under biden. Democrats are burdened with stabilizing the situations that republicans have intentionally destabilized. Like right now they will only allow 2 month budget extensions keeping us on the edge of shutdown constantly. That is no way to run a government.

[–] aew360@lemm.ee 2 points 8 months ago (1 children)

Fuck Lieberman for ruining Obamacare. It could have been so much more

[–] circuscritic@lemmy.ca 7 points 8 months ago* (last edited 8 months ago) (4 children)

The Democrats always have a scapegoat to explain why they just couldn't get [insert leftist goal] done.

It's always a lie, or rather, it's not the truth. The Democrats are neoliberals, and there will always be that one bad democrat who prevented [insert leftist goal], because they don't want to, but benefit from their voters believing they do.

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[–] Tremble@sh.itjust.works 1 points 8 months ago

Let me know if they need gas money or anything

[–] admiralteal@kbin.social 9 points 8 months ago* (last edited 8 months ago)

The IRA is a big structural change that puts us on a path where we might actually escape global armageddon. It doesn't get us there, but it puts us on the path and buys us just a little bit of time. And its entire philosophical approach builds constituencies massively, which means the longer it exists, the more it will go into a virtuous cycle. So long as Trump doesn't get in next cycle and dismantle it from within, it will be incredibly sticky.

It's almost certainly the most important bill passed in any of our lifetimes. Not just climate-wise, but legislation-wise. It's very technical and kind of boring, which makes it not as exciting, but it's still absolutely huge.

I don't give a fuck if people hate Biden for whatever reasons they have. But at least this one piece of major progress, somehow passed through an uncontrolled congress, must not be denied. If we deny it, that's probably it for our civilization. If we let the achievement be ignored, climate policy will probably be over and the ecosystem will be allowed to die. Any other issue is petty next to total collapse of the global climate and if passing this bill was ALL he could achieve -- even ignoring some of the other stuff like filling departments with the most diverse crowd ever in American history -- it would still have been a good term for a president. Better-liked presidents have achieved less.

[–] aew360@lemm.ee 9 points 8 months ago (1 children)

I would argue that the insulin thing was not tiny at all. Biden has been a good President.

[–] JDPoZ@lemmy.world 7 points 8 months ago (1 children)

The insulin thing is big in itself, but it doesn’t still address the main issue. Shouldn’t your mom‘s cancer treatment be free? Shouldn’t your sister’s heart surgery not put her out of her home?

Weird how we can only make small changes and tiny little slivers of improvement to the overall problem - of a non-universal privatized healthcare system… instead of just fighting to get universal healthcare and yelling about it loudly from the bully pulpit in the same way that someone like Bernie Sanders did.

[–] aew360@lemm.ee -1 points 8 months ago (1 children)

But Biden can’t do that on his own. He needs Congress, which won’t allow that. The Senate may have a blue majority, but many of those Democrats are too conservative to pass meaningful legislation to address the issues you’re pointing at.

The U.S. won’t do anything meaningful until the Democrats have an overwhelming advantage and won’t need to compromise with domestic terrorist sympathizers and Christian nationalists… and of course the Liebermans, Sinemas, Testers, and Manchins of the Senate

[–] admiralteal@kbin.social 1 points 8 months ago

The senate was never a blue majority.

Manchin and Synema don't count -- both are proving it by actively leaving the Dem ticket.

Not saying the 'right' way to be is to follow party line, but neither of them was in favor of progressive, liberal, or social policies. One of them is a cut-from-cloth pro-business conservative, the other is a self-interested whack-ado.

[–] BraveSirZaphod@kbin.social 3 points 8 months ago

Very little 'big structural changes' can happen without Congressional support, and Biden at this point has an actively hostile Congress.

I can understand why people blame him anyway, but that doesn't actually make much sense.

[–] Monument@lemmy.sdf.org 8 points 8 months ago (1 children)

Leading this with - I will vote, and I will vote for democrats if it’s what’s needed.

But the reason I view the (objectively good) things that he’s doing with a grain of salt is that it feels like he’s only doing them because of an impending election.

Why - when the democrats had control of all 3 branches of government in 2020 and 2021 did they not do anything that mattered?
They could have unpacked the courts by expanding them. They could have ensured abortion rights. They could have fixed the voting rights act (or implemented something that addresses gerrymandering, racial or otherwise). They could have overturned Medicare Part D. They could have fixed the compromises made when the ACA was written. They could have fixed the Citizens United decision. They could have amended the TCJA so that the tax cuts for the wealthy sunset alongside with the tax cuts for the poor (or even flipped it, so the tax cuts for the poor are made permanent, and the tax cuts for the wealthy sunset, unlike how it was written)!
They could have done so very, very much. But instead they wrung their hands about Manchin and Sinema, claiming that’s why they were a ‘do-nothing’ congress, and waited to lose the house so they could claim gridlock and return to merely being an alternative to republicans.

But even the core of that justification is dumb. They could have supported candidates prior to 2020 that weren’t just republicans running on the democrat ballot.

The issue I think people have with Biden is not that he himself is a bad guy (although he did contribute majorly to the prison-industrial system in the U.S., and championed preventing student loan discharge through bankruptcy when he was a senator).
It’s that he’s the figurehead of a political party that is more interested in gaming the system than they are in leading the people it is supposed to represent. The only real difference between democrats and republicans in that regard is that republicans deliver on their (often wildly unpopular) policies, and their base respects them for it, even if it means they will die homeless in a polluted gutter.
The Democratic Party, and by extension, Joe Biden, do not lead, and thusly do not earn respect. Their moves are only the smallest incremental moves, and that does not work at a time when the world and society is redefining itself several times within each generation.

Man. Sorry. My soapbox is tall today.

[–] HubertManne@kbin.social 1 points 8 months ago (1 children)

I totally get that and I do not like the situation, but when the choice is with or without lube im not going to forego the lube in protest of the situation.

[–] Monument@lemmy.sdf.org 2 points 8 months ago (1 children)

I’m there, too. It’s just such a gross compromise.

The crux of the issue is probably structural. If you only get two choices and both are chasing the same sources of money in a system that heavily favors a very small set of investors, then, well… any effort to get votes by distinguishing themselves is ultimately performative.

In the end, we all wind up getting served shit sandwiches, but one party tells us they don’t want to feed them to us, and the other party has convinced their voters that shit sandwiches are delicious, or at least more offensive to ‘them’ than they are to ‘us.’

[–] HubertManne@kbin.social 2 points 8 months ago

Its just getting worse to. Citizens united really bufu'd our system massively. Republicans may have been usually the worse option but there were individuals who it made sense to vote for. But decade by decade that just disapeared. By 2000 or so (citizens united) it was such that could never vote for one and since then its become literally life and death. Its become a bit like modern media. Something not being totally crappy or massively screwed up is reason to praise.

[–] JDPoZ@lemmy.world 4 points 8 months ago

I mean… it’s probably because the “great” things are tiny little things at the margins…

When I hear Biden is reducing the thing that fucking sucks to something that fucking sucks a tiny bit less and people are saying these are “great things,” It’s like hearing somebody say it’s a “great thing” that the grocery store sends a one time “3% off after buying 3x of an item” coupon once after prices have gone up by 20%.

If Biden wants to get more people on board, he’s gotta stop doing these fucking 3% coupon things and start passing major shit… or in the very least change his speeches from “we’re a good country with a good soul…” to “the Republicans are stopping me from passing a ‘fuck you grocery store stop gouging your prices by 20% to boost the stock price while firing workers’ piece of legislation forcing you to come back down to normal because you’re being a bunch of greedy fucking ghouls.”

This pro “status quo” and tiny coupon stuff he keeps going with has got to stop. He’s got to push and fight to show he wants to make things actually tangibly materially better!

[–] Viking_Hippie@lemmy.world 3 points 8 months ago* (last edited 8 months ago) (1 children)

This is actually a good example: the very concept of overdraft fees is obviously a tax on poverty that should be made illegal as soon as possible.

Instead, Biden (who's been known to lie a lot even by politician standards) wants to lower them. In a year. If he's re-elected.

Even his aspirational campaign promises are a compromise between the obvious only just course of action and retaining the status quo that enriches his owner donors.

[–] HubertManne@kbin.social 6 points 8 months ago

Well there has already been things like this that are done in his current term like no surprise billing and capping student loan amounts to the initial principle. I like that he keeps putting out new things rather than waiting for after the election. We have had to much of this, oh its an election year so lets hold off on things which then take time to get going. At least if he does get re-elected it can go into place quickly rather than starting at square one.

[–] MadMadBunny@lemmy.ca 2 points 8 months ago

Lead poisoning is real

[–] Chainweasel@lemmy.world 2 points 8 months ago (1 children)

But he won't stop a war between 2 countries that he isn't in charge of so I can't see myself voting for him /s

[–] Zorque@kbin.social 2 points 8 months ago

I don't love him. I think he's taking half measures mostly as an attempt to maintain an economic status quo while pushing for a little bit of social justice (as a treat). It's a move in a positive direction... but mostly because it's the best way to be in opposition of the other side.

I'll still vote for him, because that's the only two choices we're given for the presidential election. I'll still push for better, and vote more for who I think will actually make a difference at lower levels (state/local races), but I literally can't vote for who I "love" because it just won't make any difference.

Love doesn't enter into the equation, sadly.

[–] ratcliff@lemmy.wtf 2 points 8 months ago (1 children)

It's weird to have parasocial relationships with politicians, it's how fascists get elected. Always hold them accountable.

[–] HubertManne@kbin.social 1 points 8 months ago

Seems to me they get elected when more normal folk fight amongst themselves while their small but rabid following is 100% behind them.

[–] queermunist@lemmy.ml -3 points 8 months ago (2 children)
[–] HubertManne@kbin.social 6 points 8 months ago (1 children)

neither do i. I would not be surprised if there is not high agreement on that with folks.

[–] queermunist@lemmy.ml -3 points 8 months ago* (last edited 8 months ago) (2 children)

Well, you said you don't get why people don't love this president. That's an obvious reason.

I don't love that he's a genocide collaborator. That's why his Democratic support is so low.

[–] kent_eh@lemmy.ca 0 points 8 months ago (2 children)

When has any US president not been friendly towards Isreal, no matter what the IDF is doing?

[–] Zorque@kbin.social 9 points 8 months ago

Well if everyone else is doing it, it must be okay!

Tolerance does not equate to love.

[–] queermunist@lemmy.ml 1 points 8 months ago (1 children)

That's irrelevant to whether I love Biden or not.

I can just as easily hate the United States lol

[–] kent_eh@lemmy.ca 1 points 8 months ago (1 children)

My point is voting for Trump to spite Biden isn't going to improve the situation with Isreal and its neighbors. If anything it'll make it even worse.

[–] queermunist@lemmy.ml -5 points 8 months ago

So your point is irrelevant and off topic? I'm not voting for Trump and I didn't even mention voting.

[–] HubertManne@kbin.social -3 points 8 months ago (1 children)

Well thats two different things and a very broad definition. I, for example, am american and pay my taxes. Im just as much a collaborator therefore unless I stop paying my taxes or supporting the US, no? Now granted I don't want to support genocide but there are some rather severe consequences for me if I don't pay my taxes. And is that enough. I mean we are talking genocide. Should I actively fight? That would involve violence on my part. Would I be slipping into being just as bad as the genociders? The idea of pinning the israeli things on him is a step to far for me.

[–] queermunist@lemmy.ml 3 points 8 months ago (1 children)

Biden went around Congress to send more weapons to Israel. That's quite a bit different than paying your taxes.

[–] HubertManne@kbin.social -4 points 8 months ago (1 children)

He did not go around congress he basically expedited the sales. This really goes back to 911. Many countries pushed back on us for iraq/afghanistan but still did the show of support. Heck they sent their own troops. He could have not done it but it would have repercussions outside of our relationship with Israel. All the same. We paid for the production of the weapons with our taxes. To me railing that biden is a genocide collaborator but then ignore the direct ways they support the genocide, like financially with taxes. Well its being a hypocrite. My support is fine because you know living my nice life is important but his support because of the complex decision making around global relationships in regards to responsibility of his position. Well thats not. Oh and lets ignore that its typical of what presidents and global leaders have done in these situations.

[–] queermunist@lemmy.ml -1 points 8 months ago

https://www.cnn.com/2023/12/29/politics/biden-congress-israel-military-aid/index.html

He literally bypassed Congress. That happened.

Though ultimately, you are right. We are all complicit in this genocide. We should do something about that.

[–] Chainweasel@lemmy.world -2 points 8 months ago (3 children)

Ah yes, I forgot Biden is personally committing genocide in a country he's not president of.

[–] Zorque@kbin.social 3 points 8 months ago

Ah right, good ole "I didn't get my hands dirty, therefore I'm not culpable"

He is playing defense for the current Israeli regime, helping keep it propped up not just through aid and arms, but through diplomatic pressures as well. He's not solely responsible for Netenyahu and his cronies actions... but that doesn't mean his hands are completely clean, either.

[–] bdonvr@thelemmy.club 3 points 8 months ago

You're talking about Joe "I'm a Zionist" Biden right? Joe "I did not ask for a ceasefire" Biden?

You think just cause he's not personally pulling the trigger of a gun he's not culpable?

[–] queermunist@lemmy.ml 2 points 8 months ago* (last edited 8 months ago) (1 children)

He personally bypassed Congress to send them more weapons.

[–] Chainweasel@lemmy.world -1 points 8 months ago (1 children)

So you're ignoring the vote yesterday when 72/100 senators voted to continue supporting the war? How is that bypassing Congress when Congress approved it. And I assume you think Trump will do a better job? Well maybe you'll get what you're wishing for and we'll end up in a Christian dictatorship. I'm sure that'll be soooooooo much better than what we have now.

[–] queermunist@lemmy.ml -2 points 8 months ago

That's the bully pulpit in action; Democrats lining up behind their President.

And I assume you think Trump will do a better job?

I didn't even mention anything about voting. We're talking about whether you should love Biden.