[Jim Noble]

The bailout needs to be cancelling people’s debt to the banks.

Creating more debt-based money makes the situation worse, not better.

[riri]

I agree but much of the problem is these people with the debts also have zero money set aside and, many, now no or greatly reduced income.

It's not just who you think of as the poor either. My husband volunteers doing financial coaching at his church. It's not uncommon for these people to have less than a $1000 in the bank and 100k in debt, just credit card debt.