That’s a hypothetical. What’s actually happening has to be dealt with.
Even worse for Wilber’s case, the hypothetical involves everyone paying more to pay off debt, probably when the economy is rolling along.
The immediate is throwing thousands of people out of their homes, having thousands of mortgages going unpaid, having thousands not being able to afford food. Even more businesses going bankrupt, having empty downtown buildings where rent is no longer being paid, etc, etc.
I know which of these is more important for governments to focus on during a pandemic.