Offer to refinance US student loans and existing US credit card debt at US borrowing cost plus 1%

Reducing interest rates to 3% or so on US student loans and credit card debt, using the great rates available on T-bills, would stimulate the economy. The government would make 1% over its borrowing cost (minus write-offs for people who still could not pay), so the plan would help reduce the US deficit, not increase it. Write-off costs should be under 1% for credit card and student loan debts at around 3% per year. No new taxes required. As Prof Stiglitz explains in Freefall, the political force of banks stops this from happening, not economics. Time to tell the bankers to find other ways to make money as opposed to keeping in place US student loans and credit card debts at above-necessary interest-rate levels. Fed could do this (with Treasury) without new legislation.