Of course. But forgiving government debt whilst maintaining the current size of government is no long term solution. This is what I propose, there are a couple of choices, it will be extremely painful but will return us to a point from where we can rebuild. 1. Default. Let those who were willing to buy government debt suffer their losses, then 2. Downsize the Federal government making its only responsibility national defense and foreign territories where the members of those communities don't wish to be self-autonomous. Return all other responsibilities to the States. 3. If we don't default then the States assume the responsibility to pay off any outstanding Federal debts as well their former areas of responsibility.