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Has the Government ever wiped out consumer debt?

With everything going on in the world right now and everything being compared to the great depression - Which is scary how much they resemble do you think the government will ever just wipe the slate clean and just start over since so many people are defaulting -

If so, why do you think that and please cite your source. This is not a school project just my own sick curiosity.

Update:

** If you think the government should not be in charge of people's debt do you approve of the bailout and them getting involved?

Please try and have some thought behind your answers.

2 Answers

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  • Anonymous
    1 decade ago
    Favorite Answer

    The government shouldn't be in charge of wiping out any consumer's debt.

    Source(s): my opinion
  • 1 decade ago

    Of course not, politicians don't want problems to actually get fixed. They just want to talk about it, not work on it, or even think about it, just talk about it. In this way, they will always have something to talk about at election time.

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