The Century Foundation has proffered a report to advocate for credit card interest rate caps, on grounds that many Americans carry credit card debt: the headline dramatically declares that this is a crisis.
There is no crisis. Even the Consumer Financial Protection Bureau’s 2025 Consumer Credit Card Market Report notes that credit card balances have been mostly flat for the past ten years, when adjusted for inflation. Indeed, according to Fed data, average total credit card debt for all households declined from $8,000 to $6,000 between 2005 and the beginning of 2025. (To replicate using the Philadelphia Fed’s web tool, choose variables “Average Debt ($) Inflation Adjusted,” and “All.”) The percentage of borrowers with credit card debt has increased only slightly over the same period, from just under 80 percent to just over 80 percent (choose variables “With Debt” and “All”).
...read more at cato.org
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Another case of fake libertarians being co-opted and used as astroturf by the globalist banks, imagine a "libertarian" think tank favoring tax payer funded courts enforcing usury
Taking away the financial tools that they’re using will not help the poor.
The focus should be on reducing the cost of living by slashing taxes and regulations.
This is one of those cases where the real issue is the system itself. High interest rates, debt cycles, it’s why more people are looking at alternatives like Bitcoin to opt out.