A way to help the econamy?

This wouldn't work as it would force many companies into bankruptcy. Accounts receivable are carried on the books as an et. By writing off all current debts, this would zero out that et line and place many companies in a loss position, which would tank their bottom line and then the stockprice. Also, how about all the banks that hold mortgages - if you zero'd out the accounts receivables, that would put them greatly in debt to their account holders. Since we are wiping out debt, that would wipe out everyone's bank accounts - an account is a payable on a bank's ledger, so by zeroing out the accounts payable, you would essentially free the bank from having to pay back the deposits.