Rick Perry, Texas governor and GOP Presidential contender, announced the linchpin of his jobs program today. “Get Back To Work Camps,” he said, “will assure food and shelter for all our citizens, regardless of economic standing.” Under Perry’s plan, debt would become a criminal offense, much as it was in Victorian England.
Those convicted of the crime of being in default on debt could, if employed, work out a repayment plan suitable to the courts and their creditors. The defendant’s paychecks would be rendered directly to the court, with payments being made to creditors first. Defendants would be allowed to keep 25 percent of their pay, after taxes. However, those convicted of default without sufficient income would be sentenced to “Get Back To Work Camps.” Here, various private companies will set up shop to utilize the labor. Debtors might be assigned to an on-site factory or might be assigned to offsite work crews.
The private contractors will keep the camps open, providing each debtor with adequate food and shelter. Debtor’s will be paid at minimum wage, with the costs of food and housing deducted from their pay. The remaining money will go to pay off their debt.
Once the debt is satisfied, debtors will be free to join society with a clean financial slate.
Perry also announced that, under a Perry Presidency, personal bankruptcy would be outlawed. Only corporations would be able to restructure debt.