Erica

And

So politically, I think it's probably a very smart move to say, I'm doing everything I possibly can, pulling out all the stops, doing things I might not normally do to try and just make life more affordable for people.

It's a real issue and it's what people care about.

So I think he's trying to read the room and say, I'm going to do everything I can to take away some of the cost of this.

But at the same time, I do share a lot of your beliefs about

government getting involved with the free market and having it maybe backfire.

And I'm worried about that because, for example, with credit cards, you know, if we go back to the financial crisis, what we saw was when they put in more controls around that, what happened was people just stopped lending.

Banks stopped lending to people.

You know, and...

I agree that it was an abuse before that that led to the financial crisis.

So I'm not saying we should have just let everybody do like no document loans like they were doing and all these essentially fraudulent types of things.

I don't think that's the right answer.

But at the same time, what happened was banks just said, you know what, I don't want to do this anymore.

Like I'm just going to pull back.

And even when the government encouraged them,

and tried to get them to say, no, we really want you to issue loans to the people who are qualified for them, they still wouldn't do it.

And for many years, it was like getting really hard for people to get a loan approved because the banks were so gun-shy to take on any risk or to make those loans.

And if you limit the credit card interest to 10%, what I would expect to happen from an economic standpoint is that you'd probably see a lot of credit lines getting cut

where people won't be able to put anything more on their credit card.

And you might even see some of their cards being canceled, where they're going to say, we're not even going to allow you to have a credit card anymore.