The idea

of debt forgiveness rings true in my ear.

From a biblical perspective, which is not coming from a bible thumping individual, but from the idea that our Western culture has derived several of our cherished beliefs from this Good Book, is the concept of a Jubilee year where all debts were forgiven. As the market attests too, there comes a time in a person's life where things get out of hand and a clean slate is in order. And then things can begin again. It also brings up the idea of brotherhood and common interest which I believe has made the US great.

Of course, the converse is the Egyptian model where everyone becomes indebted to the state and eventually slaves to Pharoah. You don't need to take my word for it, just think about what is going on and the ramifications at hand, or read a good blog or newsite filled with controversial ideas. It's all there.