This is an interesting idea, but how would the government avoid using any tax dollars? I do see your point however that credit-card debt does hold card holders back from spending more. My argument would be that card holders are soley responsible for the debt they have accumulated; but an easy counter-argument would be so did GM, Chrysler, BofA, etc.

The stimulus this would created is obvious. Increased consumer confidence because they have less debt, increased cash flow back to the banks, increased savings every month from lower interest charges resulting in more local economic purchases for goods and services, or, even more cash flow back to the banks in the form of savings.

And no tax dollars were used in the making of this stimulus program.

http://www.daily-protest.com

So the presidential saga continues. Americans have dealt with failed campaign and presidential promises every year since we voted in the first election. Yet, this is the present and we’re dealing with an economic environment that’s extraordinary. There’s a lot of spending going on thanks to our dime and taxpayers want to see results!

Thanks for commenting William,
Tim