The reason you would use post offices is they have land and a physical presence across the country. And it’s a policy choice among many options. Yes, you would have to revamp the post office and direct resources to that. Seems like the existing thousands of designated govt agents with retail stores, ie banks, should be compelled by regulation to offer low cost/easy to use checking accounts to every American.
I’m more in favor of state banks than this, but I understand why progressives would want this bc nobody understands what so called private banks really are (and the left and right are on the wrong side of their stated ideologies w.r.t. reality) and generally see this as a positive development.
Schmidt Wrote: "Borrowing money to live" -- but with little or no hope of ever paying it back? Poor people are in need of welfare payments, food stamps, free medical care, education assistance, job retraining assistance and a bunch of other things including a Job Guarantee, but getting loans for day to day subsistence when they have no means of paying it back doesn't seem to me a solution.
""In studying payday loans in North Dakota, the Center for Responsible Lending found that nearly half of all borrowers default on a loan within their first two years of borrowing. The number — 46 percent — is attributed to borrowers who took out multiple payday loans within that two-year period or renewed just one loan.Mar 31, 2015""