Radio Recap: Socialism in America? | American Center for Law and Justice
  Search  |  Login  |  Register

ACLJ Profile Completion


According to Sen. Bernie Sanders, we need to punish banks and lenders because “zillions of people” don’t realize they must have good credit to avoid being be charged high interest rates on their credit cards.

On today’s show, we discussed self-described “Democratic Socialist” Bernie Sanders’ proposed Loan Shark Prevention Act, which calls on Congress to enact a 15% cap on all credit card interest rates. It’s the latest plank in the platform for democratic socialism.

This program, which is supported by fellow socialist Representative Alexandria Ocasio-Cortez, would place a cap on the interest rates that credit card companies are allowed to charge consumers.

In a joint-meeting with Rep. Ocasio-Cortez, streamed live on Facebook, Sen. Sanders announced:

“Today we’re telling Wall Street and the payday lenders that enough is enough. Your grotesque and disgusting behavior is not acceptable in America, and we’re going to change it.”

Sanders and Rep. Ocasio-Cortez want us all to think they’re standing up for the little guy and taking on “these guys in three-piece suits, who are the new loan sharks and hoodlums” that in the old days would “break your kneecap.”  

Sure, it sounds like a good thing at first glance.

But we agreed that if you look a little deeper, it is a dangerous idea. What they’re suggesting is just more socialist control. The reason we have access to so much credit in this country is because creditors are able to price their products appropriately for the risk they are assuming.

The default risk that credit card companies take on is very high. Unfortunately, the amount of people who open credit cards, charge them up, and never pay them back is staggering. In fact, consumer debt in America is at an all-time high. Creditors have to charge interest to offset the loss they take when others default. The only alternative is a reduction in the number of Americans who will have access to credit at all.

The Sanders plan would likely cause access to credit to dry up for millions of Americans.

Another component of Sen. Sander’s plan is to run banking services through the postal service. In other words, he wants the government to deliver the mail and run our banking system through a single federal entity. It’s a recipe for disaster.

Democratic socialism doesn’t really look out for the working man and woman. Rather, these ideas just seek to control the banks and creditors in this nation—which ultimately centralizes control over your money, as well. By digging past the headlines, voters can understand the true impact of these dangerous policies.

You can listen to the entire episode here.

Stop the Radical Left’s Socialist Agenda

Radical Left  Signatures


Receive the latest news, updates, and contribution opportunities from ACLJ.

Make this a monthly tax-deductible gift.

As we take on the radical Left’s socialist agenda and fight to defend the Constitution in courts nationwide, we urgently need your support. Donate today.

Email Address is required.
First Name is required.
Last Name is required.
Credit Card Number is required.
Verification Code is required.
Expiration Month is required.
Expiration Year is required.
Receive the latest news, updates, and contribution opportunities from ACLJ.
Encourage your friends to sign and donate by sharing this petition.
Latest in
Radical Left

JSL: President Stands Up to Democrat Charade

By Jay Sekulow1570568668591

The President is standing up to the House Democrats’ charade. On today’s broadcast, we discussed the President’s administration deciding to block the testimony of U.S. Ambassador to the European Union Gordon Sondland before the House Intelligence Committee that was scheduled for today. The reason...

read more

How the Left Uses Labels to Shutdown Criticism

By Wesley Smith1563810146006

No one enjoys criticism. It is a normal human reaction to become defensive when someone vociferously objects to our opinions or actions. It is unpleasant to have one’s shortcomings or ideas placed under a microscope for review. In the age of social media and a 24-hour news cycle, politicians and...

read more

JSL: Questions We Have for Mueller

By Jay Sekulow1561576543464

With the news that Special Counsel Robert Mueller will testify before Congress in July regarding his report. We certainly have some questions we’d like to ask him. On today’s show, we discussed the op-ed that I just wrote for where I listed the questions that Mueller must answer. When...

read more

JSL: DNC Books Lopsided NBC Debate

By Jay Sekulow1560800182423

The Democratic National Committee (DNC) finally let us know who will be debating who in its first two Primary Debates, and the groupings seem, at least to us, to be more than a little lopsided. On today’s show we discussed the newly released debate lineups , and the DNC’s attempt to keep the...

read more