A REAL Stimulus Idea

The so called "stimulus" package that was signed into law is a hoax! Yes we will get money, but most of us are going to use it to pay debt.
Now think about this a moment.
What has just happened to banks? They have gone through a time of massive foreclosures and loan defaults. The congress will not bail them out so close to an election, well at least not forthrightly. So what do they do? They form a stimulus package where the majority will not be spent, but will be used to pay off some debt that is owed on credit cards, to, YOU GUESSED IT, banks. Two big losers in the sub prime mortgage were Citibank and Household Bank Corp. Two of the largest holders of credit card debt.
The Stimulus Package is NOT going to help the economy but THIS would!

Congress needs to place a limit on the interest rate a bank can charge for unsecured or revolving credit. The highest should be no more than 12%, which is still substantially higher than what was thought to be exorbitant just 50 years ago. This would immediately and permanently increase the fungible funds available to every family in the US who has credit card debt. This increase in funds would be not just for a month but for a lifetime. This would have a positive effect on the economy as there would be more funds to spend. It would also help people, not banks.