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Debt Hypocrisy

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Here’s a letter to the Wall Street Journal:

Paul Luce rightly notes that new legislation limiting the issuance of credit by retail stores is obnoxiously paternalistic: many customers who wish to buy on credit, and many retailers who wish to take the risk of extending credit, are now arbitrarily prevented from doing so (Letters [2], Jan. 8).

This legislation is especially infuriating because the same politicians who voted for it – the very same officious intermeddlers who claim to care so deeply about protecting unsuspecting Americans from being burdened with excessive debt – wantonly and routinely foist huge debt burdens on each and every American (and our progeny) through Uncle Sam’s soaring budget deficits.

What kind of twisted mind thinks it to be acceptable to load debt onto someone unilaterally – without that person’s consent – but unacceptable to allow that same person to choose his or her own level of debt burden?

Sincerely,
Donald J. Boudreaux

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