Have Government Buy up Consumer Credit Debt

News & Politics

I believe the most critical challenge facing us today is financial collapse of America's base. The president should buy consumer credit debt, approximately $9,000 per U.S. resident and $1.7 trillion overall. The creditors would receive money that they would otherwise see little of in a collapsed economy. And a relief of around $9,000 per credit cardholder, would help stabilize our economy, invigorate the retail markets and allow breathing space as credit companies reevaluate their lending practices. Banks filled with money are worthless if the public has no access or means to purchase those things needed for a vital economy.

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