Dear Sophia, Payday loans are antithetical to the concept of a safety net. Best, Retiring Guy

Another conservative airs a warped view of payday loans.

Photo and description quote found at Keppler Speakers

Opined at Sophia Nelson: Getting rid of payday loans won't protect our most vulnerable. It will destroy their safety net.  (Fox Business, 12/7/2019)

The reality, Sophia, is that payday loans are antithetical to the concept of a safety net, i.e., something that provides security against misfortune or difficulty.

And your definition/explanation is a bit narrow.

Source:  Investopedia

Related reading:
Pay-day loans: making money from other people's misfortune?  (The Guardian,10/1/2011)

Original 12/1/2019 post starts here

Meet the addlepated Stephen Moore: free enterprise, limited government, individual freedom Heritage Foundation shill.

Opined at Congress bans short-term lending, the poor pay a high price.  (Washington Times, 11/30/2019)

How high?

Thanks to Trump, Payday Lenders Will Keep on Merrily Bilking the Poor.  (The American Prospect, 2/7/2019)

No, Stephen, it's nothing like paying a $3.50 fee for a $100 ATM withdrawal. The cycle of the payday loan is a well-known horror story. A person needs money, and they need it fast, so they visit a payday lender with names like EZ Cash or Cash Express. They get their money on the spot. The trouble comes later, when it's time to repay the loan. Most borrowers default on that small-dollar loan, which is how EZ Cash profits—as the loan is renewed or rolled over and the fees rack up. 

[snip] 

That can be a devastating turn. What with roll-overs and fees, the average payday loan comes complete with a 391 percent annual percentage rate (APR). Lenders will do whatever it takes to get that growing pile of money, often debiting funds directly out of their customers’ bank accounts. [emphasis added]

Learn more about the Heritage Foundation.

Related posts:
UPDATE. GOP loves pay to play the payday way.  (10/6/2016)