Richard Vague is Secretary of Banking and Securities for the Commonwealth of Pennsylvania.

Wall Street Journal Best Seller“Drawing on his experience as a practitioner and his expertise as a scholar, Richard Vague makes a compelling and timely case that private debt can be as dangerous as the government debt that gets most of the attention in public debate. Policymakers should pay heed.”Professor Michael Lind, University of Texas at Austin “If a radical economist or politician called for a Debt Jubilee, you may well think `he would say that, wouldn't he?’. But if a successful banker like Richard Vague calls for it? Then you should listen. Read this book and see how the USA could recharge its economic liberty and vitality via debt forgiveness.”Professor Steve Keen, Honorary Professor, UCL & ISRS Distinguished Research Fellow "Vague offers practical and politically feasible ways to reduce debt burdens."Dollars and Sense

• Chapter 1 High Levels of Private Debt Stifle the EconomyChatper 2 The Paradox of DebtChapter 3 Policy Solutions that Won’t WorkChapter 4 The Path to Private Debt JubileeChapter 5 The Enigma of Government DebtEpilogue Concluding ThoughtsAppendixWorks Cited

Richard Vague is Secretary of Banking and Securities for the Commonwealth of Pennsylvania.

Wall Street Journal Best Seller“Drawing on his experience as a practitioner and his expertise as a scholar, Richard Vague makes a compelling and timely case that private debt can be as dangerous as the government debt that gets most of the attention in public debate. Policymakers should pay heed.”Professor Michael Lind, University of Texas at Austin “If a radical economist or politician called for a Debt Jubilee, you may well think `he would say that, wouldn't he?’. But if a successful banker like Richard Vague calls for it? Then you should listen. Read this book and see how the USA could recharge its economic liberty and vitality via debt forgiveness.”Professor Steve Keen, Honorary Professor, UCL & ISRS Distinguished Research Fellow "Vague offers practical and politically feasible ways to reduce debt burdens."Dollars and Sense

• Chapter 1 High Levels of Private Debt Stifle the EconomyChatper 2 The Paradox of DebtChapter 3 Policy Solutions that Won’t WorkChapter 4 The Path to Private Debt JubileeChapter 5 The Enigma of Government DebtEpilogue Concluding ThoughtsAppendixWorks Cited