Credit Card Debt Crushing Consumers

This report from the left-wing Common Dreams News Wire reports on how credit cards and their interest rates are gouging the American consumer. The report sites that in 2004 nearly half of all households in the country are heavilly in debt.

In the report, a "Borrower's Security Act" is proposed. If the state governments would do likewise first, to set a good example, it is all the better. High credit card debt - and the interest rates charged on these cards - does nothing to improve the economic health of the country. Helping the consumer and the worker to get out of debt, as well as cutting the power of credit card companies - especially on the local level - will only benefit the country.