The Rolling Jubilee project, set up by the Occupy Strike Debt group, has canceled over $15 million worth of debt in the past year. Principally eliminating extortionate medical bills, the group has strived to help the lives of thousands of Americans struggling to repay their debts. However, although the group’s goals are admirable, the project can hardly be presented as a viable method to repair the systemic issues within the American economy.

In cases of default, banks usually gain collateral from their loans. Thus, a third party may step in and purchase the loan, presumably for more than the value of the collateral. While debt buyers will usually attempt to elicit further payments out of their debtors, Rolling Jubilee simply forgives the debt, hoping that those they helped, now relieved of enormous financial burdens, will donate in the future.

But even if the group were to buy a large amount of distressed debt, the nation’s multi-trillion dollar debt will remain unaffected. More specifically, if they are buying deeply discounted debt, it is debt that someone is already refusing and that someone else has given up on. That person’s life will not change as a result of this extinguished debt. If the Rolling Jubilee were able to buy real mortgages, this would be much more impressive than discounted unsecure loans. And banks generally fail to let people use the already existing, legal means for renegotiating mortgage debt and just foreclose. Thus, buying unsecured, discounted debt is clearly a symbolic act at best.

The Rolling Jubilee has attempted to come to the aid of thousands Americans struggling under the burden of excessive levels of medical debt. But this is not enough. The project presents a window of opportunity for the members of Occupy to draw attention to the inordinate levels of debt incurred by ordinary Americans who simply want adequate and affordable access to health care.

In spite of Rolling Jubilee’s laudable intentions, its questionable practicality revives many of the critiques Occupy garnered, such as its priority of message over substance. Similar issues with Rolling Jubilee indicate that Occupy’s troubled history could repeat itself. The project may combat mounting debt, but the sustainability of the venture remains to be seen.

A version of this article appeared in the Thursday, Nov. 14 print edition. Email the WSN editorial board at [email protected].