President Obama said during his Egyptian speech that he wants to forgive billions of dollars of their debt. However, if you happen to be an American in any capacity (i.e. business owner with a government loan, someone with a student loan, a homeowner who has a mortgage with one of the government’s lenders) then you’re out of luck, you don’t qualify.
Since he’s so adept at offering leniency for various foreign countries and factions, maybe he can get the Chinese leaders hooked up on a conference call with little Timmy, I forgot to pay my taxes, Geithner, and the two of them can sell them on the notion that they should forgive most, if not all, of our debt to them. They, in turn, could pass along the favor to another country whose debt they are holding, and so on. Before you know if nobody owes anyone anything, and viola, the world’s debt problem is solved and we can all live financially happy ever after….