Everybody wants to buy and spend, agreed? We now know that unbridled greed got us into the shape we’re currently in, agreed? Then why, I ask, isn’t anything being done to address the next ticking bomb – credit card debt? Everyday we hear of credit card companies jacking the rates on unsuspecting credit card holders. Undeservedly in most cases. 29-38%?!  Has anyone ever heard of usury? Or has that word disappeared from our vocabulary along with monopoly? We are talking about another government-sanctioned rip-off of the public…another crime of unbridled greed pounding us into the ground, killing our economy and ruining untold lives. Did we overspend? undoubtedly! Did we live beyond our means in some cases? of course! We’re Americans and we’re addicted to buying and spending. What’s more we still want to. Here’s the key – the government must make it possible. Why? Because it’s the only way to save our economy. How else do they expect to save an economy that for years has been driven by consumer spending? Let us spend!  How? Immediately lower all credit card rates on outstanding balances and all new purchases to 1-2%. Yeah! Use some of that bailout money to supplement the rate if necessary. Shouldn’t the cc companies be happy with a 1-2% return? What rate do you get when lending your money to banks (savings accounts, etc)?

Imagine how freed up people would feel. They’d be paying down their existing debt and not afraid of adding new debt via buying and spending. We’d get the wheels cranking again. We’d get people back in stores. We’d create jobs. It’s a patriotic call to duty. The credit card companies must get real and stop the greed, lower the rates and open the gates of consumerism once more.