Covid-19 and Debt By Mark Twain©
In an April 5 comment on a recent article, under the subject line: And people still need to move…., cgrotke wrote the following:
“It would be a shame if, at the end of this, everyone is simply in debt up to their eyeballs, and everyone needs to work off the “debt” of these strange months for the foreseeable future. That would be a very slow digging out of the economy.”
Under the category: “This is so crazy, it might just work!” please allow me to offer up a solution:
In accordance with Biblical principles, what if our president would proclaim a Jubilee!
According to the Book of Leviticus, Hebrew slaves and prisoners would be freed, debts would be forgiven, and the mercies of God would be particularly manifest. https://en.wikipedia.org/wiki/Jubilee_(biblical)
Why not… Jubalee year by presidential proclamation!
I like it
Is there any downside to forgiving all debt and restarting fresh?