“In its first two months, the government’s signature initiative to support consumer lending has fallen well short of expectations, deploying only a fraction of the amount officials had hoped to extend to stimulate auto loans, student loans and credit card lending…. Even without widespread use of the program, consumer lending has improved somewhat in recent weeks, and there are signs that the economy’s free-fall is ending, raising questions about whether the program will ultimately be needed to get the economy going again.” (Washington Post, Thursday)
Why is government encouraging consumers to go into debt?
FEE Timely Classic
“Are Credit Card Interest Rates Too High?” by Jorge Amador
