Year of Jubilee.  Once a generation debt forgiveness.  Could that work for our society?

Michael Johnson

Anthony Avila

Bernard Thompson

VERIFIED

I don’t know if I am full against, but on the other hand people should pay their debts and agreements they make. Also not spend money they don’t have

Derrick McQuinn

Americans aren't going to let themselves be told what they can do or how much debt you can get yourself into.

MaryBeth Zmuda

Tech Boi

It would needs tons of regulation, but it could work.  At the least we need to ban payday loans, pawnshop, and payday advance predatory loan interest practices

If it’s good enough for the Bible it’s good enough for me

Albert Long

Philip J Muniz

If people get themselves into that situation it should be on them to get themselves out

Jason Finley

That cannot and should not work in a capitalist society. Government intervention is not the answer, every 25 years or otherwise.

Bob Rauch

I dunno, Sounds like it could get out of hand and abused... much like the system is today. I’ve always been a person to spend what I have (maybe extend a reasonable amount for investments/education) but to spend excessively beyond your means always seems irresponsible to me.

Joe Rigby

Agreed on the predatory, especially those places. Hell even the ridiculous high interest student loans.

Anyone who has loaned money and not got it repaid might see this as unfair, but this system would limit the amount loaned out in the future.

It also deconstructs some of the generational poverty.

Not sure how exiting debt would be handled, maybe a one time government bailout might help the conversion. This would then put a time limit on future debt and thereby limit the amount loaned.

I agree with the position that we wouldn't allow debt limits to become law.  I was just asking if it would work well if enacted.
;)

Wiping out debt every 25 years? I don't see the purpose but I agree about predatory lending. Tks!

In its truest form this is zero government intervention. It is a limitation on predatory lending

Yes.  Once implemented this lowers the amount of loans and encourages spending limits

Knowing that the debt will be cancelled in a set number if years will actually limit the amount of loans and bring about more spending within our means

The Bible doesn't always explain why something works