Consumers Now Required To Seek Treasury Department Approval On All Purchases Over $50

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Consumers Now Required To Seek Treasury Department Approval On All Purchases Over $50

WASHINGTON—Disappointed with the way the nation has been managing its money, the Treasury Department announced Wednesday it had begun requiring citizens to seek government approval on all purchases over $50. "It's not that we don't trust people, but right now we're not seeing a lot of evidence suggesting they're capable of making these decisions on their own," Treasury Secretary Timothy Geithner said of the law requiring consumers to fill out a form at the point-of-sale listing the desired item, the total estimated cost, and the reason why they need it and why they need it now. "If, for example, you are a 32-year-old woman deep in credit card debt, we are going to need a compelling reason as to why you need a vintage rotary phone from Anthropologie." At press time, the department had denied Cleveland resident Jim Barnes' purchase of a Buffalo Springfield box set that he already had on cassette.