Great Vulcan, I don't think you or me should have to pay for someone else's stupid decisions. So just one detail I need cleared up.
1. How do you decide who is "chronically over their heads in debt even though they have a steady job"? is this done after the fact? So you make one screw up, under the bridge you live? I could well be over head in debt and fully capable of paying it off and providing for my retirement. Only way to know which is which, is after the fact. I'm guessing the banks already have bad debt on their radar - hence credit ratings.
2. How do you figure out who is going to "end up old and feeble and probably sick due to bad choices"? Again, is this done after the fact so now you send them under the bridge to live; or you got some crystal ball to figure it out before they make those bad choices? Fact is, no one can forsee being stricken with cancer. And what does that have to do with buying on credit anyways.
You see, while in theory you may have a great idea, in practice, it ain't quit so easy. I'm afraid the genie was let out of the bottle long ago when whoever decided that we didn't need to be our brothers keeper - the gooberment would do it. There ain't no way to stuff that genie back in after the fact.
