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The homeowner eats the loss. The government takes a risk asset onto its balance sheet.

In my proposal, the government monetizes this expenditure, so debt is NOT transferred from private sector to public.

Again, this is not a reinflation of assets. This is an attempt to help clear private debt. There is a huge difference, and understanding that is key to understanding why this economy cannot be cleared by programs to incentivize spending alone.

Clearing the current situation by free market alone would be a 10 to 15 year journey much like the great depression, maybe without the 30% unemployment.
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