I am no expert or anything, but the way I look at it, it’s not making any sense to me.

Some rich dude tells lots other not-so-rich dudes that they can make lots money if they give him all their money to invest.  The rich dude then spent all the money and now has no way to pay the other dudes back.  Now the US governmet is asking us, the taxpayers, to pay of all the debts of the rich dude so he can get off free and clear and leave all the debt to us.  Why?  Why are people even considering it?  No matter how you work it, the debt has to be paid.  The government want the taxpayers to pay for it saying it’s good for the economy. (BTW, it’s not like we have any money anyway since we are way in red.  So they are just going to pay for it by printing money out of thin air…  Way to go!)

If your friend max out his CC to the point where he can’t even make minimun payments, would you get another CC with a higher limit to pay it off, under YOUR name??? (Your friend tells you it will be good for the both of you in the long run!)