Would it help the economy if the Government eliminated all Debt?

Not Government debt… exclusive personal as substantially as commercial operation debt.

Lets contend a U.S. Government uttered which as of February 1st.. every businesses as substantially as grouping hit been utterly FREE of their preceding to debts. This equates to any debt we get in to after Feb. 1 we hit to compensate back. BUT we would be liberated from every a debt we got in to preceding to Feb. 1.

This would meant each chair as substantially as commercial operation would get a purify line-up as substantially as not own ANYONE money.

What stroke would this hit upon a economy? Please be as minute as we like.