Troops' debt a growing security concern (High debt=security risk)

[The Straight Story]

By THOMAS WATKINS, Associated Press Writer Thu Oct 19, 6:25 PM ET

SAN DIEGO - Thousands of U.S. troops are being barred from overseas duty because they are so deep in debt they are considered security risks, according to an Associated Press review of military records.
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The number of troops held back has climbed dramatically in the past few years. And while they appear to represent a very small percentage of all U.S. military personnel, the increase is occurring at a time when the armed forces are stretched thin by the wars in
Iraq and Afghanistan.

"We are seeing an alarming trend in degrading financial health," said Navy Capt. Mark D. Patton, commanding officer at San Diego's Naval Base Point Loma.

The Pentagon contends financial problems can distract personnel from their duties or make them vulnerable to bribery and treason. As a result, those who fall heavily into debt can be stripped of the security clearances they need to go overseas.

While the number of revoked clearances has surged since the beginning of the Iraq war, military officials say there is no evidence that service members are deliberately running up debts to stay out of harm's way.

http://news.yahoo.com/s/ap/20061019/ap_on_go_ca_st_pe/indebted_troops_3

Hmmmm....isn't our government in high debt??

[TechBear_Seattle]

1. And the Junta "never saw it coming"

I can hear the spin already:

"No one could have predicted that removing National Guardsmen from well paying jobs and sending them off for an indefinite span of years for shit pay would have this effect. No one saw it coming."

[mediaman007]

2. How the hell do the NG"s pay their mortgages? How can the pay for

school clothes and Xmas presents? I can't imagine that they continue to draw a salary from their employer.

[Monkeyman]

3. They don't and lenders are just waiting for them

With huge payments

[mediaman007]

5. Pretty sad :(

I just don't see to many Americans having the free cash to help them out.

[TechBear_Seattle]

6. Not just any lenders

One of the biggest problems the families of National Guardsmen face is predatory lending, particularly those "payday loan" places. Although the interest of 2% to 4% seems reasonable, that rate is paid over a week or two. Annual percentage rate is typically 330% to as much as 480%. It is not unusual for a person getting such a loan to have to renew it several times before it is paid off, or to pay it off and then have to come back a month latter for another, thus racking up hundreds of dollars in interest payments alone. That, much to the lenders' delight, forces them back to get yet another loan.

[Jim Warren]

4. and the worthless politician pricks

who never served in the military are the ones who mouth empty platitudes about freedom and flag and country all the while bankrolling a cush life in office or set themselves up for later as lobbyist on the take.
FUCKING DISGUSTING