Problem with this is a person with a high debt load would be better off using this central bank credit to pay down debt rather than consume.

For Steve Keen that was a feature. His proposal was to give each household $100,000 with the requirement that it be used first to pay down debt. If a given household had no debt they could use the money as desired. This had the virtue of reducing the household sector debt level and providing a stimulus to those with no debt or less than $100,000 debt. Futher, those who had not gone into debt or gone in debt so far would be rewarded for their prudence - or whatever, but at least rewarded.

Another proposal I have seen notes that, were the current $85 billion/month distributed on a per capita per month basis it would constitute an additional $300/month income for all individuals. For a family of three that would be an additional $900/month. If we have been doing this for years for the financial sector why can't we do it for the private sector - at least until we start seeing inflation.  

"It is not necessary to have hope in order to persevere."