Wednesday, September 08, 2010

Another Obama Econonic Backfire

Let's not forget, one of the very first industries that Obama went after in a full-frontal assault was the credit card industry. Many months later, predictably, there is much less card-based consumer credit out there right now. This was not their intent, this was all about consumer protection. Oh well. More beatings for the little guy, but as in other areas like healthcare and education, the better off among us have plenty of access to credit while the government shuts down access and degrades quality for everyone else.


Blogger Richard said...

Your healthcare reference is spot on. Increasing the demand (by roughly 30 million - or more as companies jettison their corporate healthcare plans) while reducing the supply via Obamacare price controls can only lead to higher costs and less availability in the healthcare field... just as has been the case with credit cards.

8:16 AM  

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