Heritage research fellow EJ Antoni discusses Trump’s economic policies in his next administration on ‘Fox News Live.’

Most economically literate people generally understand that price controls are a bad idea, leading to outcomes such as shortages and rationing of goods and services. But when it comes to credit cards, that understanding of price controls goes out the window. 

Sen. Josh Hawley, R-Mo., announced that he has teamed up with the consummate supporter of every bad economic idea, Sen. Bernie Sanders, I-Vt., to introduce an arbitrary 10% cap on credit card interest rates, something that President Donald Trump did float during the election. 

However, while Trump is doing a fantastic job of keeping promises, this is not one that should be kept.

Sen. Josh Hawley announced that he has teamed up with Sen. Bernie Sanders to introduce an arbitrary 10% cap on credit card interest rates. (Tom Williams/CQ-Roll Call, Inc via Getty Images)

First, I want to be clear that credit card interest rates are ridiculously high and generally shameful. I am also not a proponent of using debt for personal spending and believe that balances should only be........

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