I'm not sure how valid this thought process is or if this will ever be done, but I was thinking about it last night and decided there was no better place to ask than here. Say the recession somehow becomes a depression and the economy is worse than we've ever seen it (even worse than before WWII). Would it be possible or would the government consider wiping everyone's debts off the books (mortage, credit card, auto, etc.)? And, if they did, how would that impact the economy? Not really a thread for debate, just me trying to edjamacate myself.