Federal Government Proposes to Protect Us From Ourselves in Evaluating Credit Card Offers – By Ward Clark (Red State) / March 06, 2024
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Way back when I was in junior high school (that’s what they called middle school in those days), I suffered through the usual round of required math classes. While some of those were incomprehensible to the 14-15-year-old me, at least one of them was useful in that it taught practical, applied math skills. We were taught to balance a checkbook, to reckon compound interest, to calculate amortization, and other practical skills, all with pencil and paper. We had given up carving equations into mammoth tusks with flint knives only a year or two before that, you see.
That class prepared us pretty well for the real life many of us entered only a year or two later — I started my first W2, time-clock job at 16 — because we could manage our finances and figure out what kind of loan for, say, a car, that we could handle. Amazingly, we did that without any help from the government.
I’m not sure when schools stopped teaching these things to young skulls full of mush, but they did. Our kids, who went to school in the ’80s and ’90s, received no such education, requiring their mother and I to fill that gap (along with many others) in their educations. That may be one of the reasons that the Consumer Financial Protection Bureau, an agency that has no constitutional authorization to even exist, is proposing to set up a “consumer-facing tool” to “bring more price transparency to credit card comparison shopping.”
