While both of the Democratic contenders for the November Presidential nomination have a lot of good ideas, here’s one that we, at Debt Hacker, really like: cap usurious interest rates on credit cards.Where the two could not seem to agree on what that cap should be (Clinton proposes the cap at 30% but Obama feels that is still too high), they are united in finding creative ways to help Americans get out of the many financial messes that have come about in our recent fool’s paradise of ‘no money down’ and ‘easy credit’.

According to a post on The Swamp, credit card interest rates aren’t the only thing Clinton and Obama are proposing pointing out that

Clinton also noted that the Ohio cities of Dayton, Toledo, Akron and Cleveland are among the nation’s top 20 cities for home foreclosures. She has called for a 90-day moratorium on foreclosures and a five-year freeze on adjustable rate mortgages for troubled homeowners.

Clinton used the home foreclosure issue as well as her support for a mandated universal health insurance program to contrast herself with Obama. Obama has called for tougher penalties for predatory home lenders. On health care, he has proposed a plan to mandate coverage for children, which he contends would help make all insurance more affordable.

There are many other economic areas in which the two are promising reformation, but in the short run, if they can get the feds to clamp down on credit card interest rates, that will be a great help for the many American families suffering from our country’s present economic malaise.

Read the full post on The Swamp.

Tags | barak obama, credit card, Credit Cards, Debt, easy credit, economic malaise, foreclosure, hillary Clinton, ideas, insurance, interest rate, interest rates, lenders, money, Mortgages, no money down, Politics, usurious interest rates