National paternalism consists not merely of providing individuals things they didn’t purchase, but in addition in preventing folks from making decisions that, within the benevolent judgment of superintending bureaucrats, aren’t within their most readily useful interest. Like moms and dads with young kids, federal government admonishes us, “No, no, this isn’t for you personally.”
Nowhere has government’s paternalistic concern for bad monetary decision-making by low income people been more obvious than in terms of unsecured debt.