Say farewell to the concept of moral hazard.
Say farewell to individual responsibility.
Say farewell to capitalism.
The plan is socialism, the objective of which is to destroy capitalism and freedom. It’s also a program designed to buy votes for the DemoSocialists.
Aside from that, at least half of the hundreds of billions to be spent by the federal government will be completely wasted, since half of the debtors will default all over again.
Congress continues to violate the Constitution by taking my money/income/property and giving it to someone else. Socialist Security does the same thing.