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A comment on U.S. credit card debt jumps 18.5% and hits a record $930.6B. Parent comment

Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by lotsofpulp on Saturday February 04, 2023 @12:07PM (#34655991)
Politician A: I will increase aid to poorer people to get them out of the hole. I will need to increase taxes.

Politician B: I will increase access to credit to poorer people to get them out of the hole. I will not need to increase taxes.

Voters will go for B every time. See taxpayer subsidized loans for home purchases, education, small business, etc.

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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by plonk on Saturday February 04, 2023 @12:32PM (#34656248)
Are you agreeing with me? State-subsidised loans are the first example of state aid I was thinking of.
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Re:U.S. credit card debt jumps 18.5% and hits a record $930.6B by lotsofpulp on Saturday February 04, 2023 @02:46PM (#34657477)
Taxpayer funded loans inevitably lack the requisite underwriting, and hence turn into subsidies to the businesses that the loans are eligible to pay, hence allowing them to increase price.

See higher education and home prices in the US.

Having most people be leveraged to the max, using their own children’s future tax payments, is great for employers who want workforces with less negotiating power.

Proper state aid would be cash, or giving people houses and education. Not chaining them with debt to pay for houses and education.

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