Can Debt Forgiveness Work For The U.S.?

Let's check out this article by Mandelman:

Debt Forgiveness – The IMF, Iceland, and the U.S. of the 1930s all say it works

The International Monetary Fund (“IMF”), in its latest World Economic Outlook, stated quite clearly that mortgage write-downs, among other forms of debt forgiveness, can deliver significant economic benefits by substantially mitigating the negative impact of deleveraging on a nation’s economic activity.