The Great Forgetting, a continuing series


On Thursday, the Center for American Progress, a prominent left-leaning think tank that often cultivates policy ideas later adopted by the Democratic Party, proposed a two-year freeze on the prices of 24 food items, such as strawberries and ground beef.

Grocers would voluntarily agree to capping the cost of food in exchange for paying lower fees on credit card transactions, according to the proposal, which was written by a group led by Jared Bernstein, who chaired the White House Council of Economic Advisers during Joe Biden’s presidency.

That, in effect, would force credit card companies to absorb the cost of subsidizing food purchases, a highly unusual arrangement. A draft of the proposal said the Federal Reserve could force credit card companies to do so via its regulatory oversight, though that provision was removed after questions from The Washington Post.

It is not clear how else the government might persuade credit card companies to foot the bill, nor how many grocers would agree.

Here is more from The Washington Post.  Elsewhere in The Great Forgetting, three Supreme Court Justices seem to have forgotten what the Constitution says.



Source link

  • Related Posts

    Bolivia Steelmaker Weighs Deducting Mill Losses From China Loan

    (Bloomberg) — Bolivia’s state steel company is feuding with the Chinese engineering firm that built its flagship plant, and says it may seek to deduct some of the $100 million…

    Alex Ferreira wins gold in men’s freeski halfpipe

    IE 11 is not supported. For an optimal experience visit our site on another browser. Now Playing Alex Ferreira wins gold in men’s freeski halfpipe 00:33 UP NEXT Trump expects…

    Leave a Reply

    Your email address will not be published. Required fields are marked *

    You Missed

    Canada announces commitment to the global fight against HIV, tuberculosis and malaria

    Free room and board? 60% of Canadian parents to offer it during post-secondary – National

    Free room and board? 60% of Canadian parents to offer it during post-secondary – National

    Amanda Seyfried Proves Metallic Bags Are a Spring Must Have

    Amanda Seyfried Proves Metallic Bags Are a Spring Must Have

    ‘A Disgrace’: How Trump Found Out the Supreme Court Ruled Against Him

    Mick Cronin apologizes to player for ejecting him and say he needs to do better at representing UCLA

    Mick Cronin apologizes to player for ejecting him and say he needs to do better at representing UCLA

    Backrooms Level X – A Liminal Horror Descent into the Infinite Void

    Backrooms Level X – A Liminal Horror Descent into the Infinite Void