Consumers Can Read The Writing On the Wall, Why Can't Government? By Howard Rich
Over the last three decades, American consumers have demonstrated precious little in the way of fiscal responsibility. Rather than adopting a motto of "spend only what you earn" and carrying on the frugality of previous generations, we've witnessed the dawning of an "age of credit." Little plastic cards have promised (and delivered) instant gratification to tens of millions of consumers - only to hit them later with double-digit interest rates, "fine print" which ruins their legitimate borrowing potential and condemns many to a downward cycle of debt and despair.
