Quote:
Originally Posted by Adder
Seems like maybe we should be talking about ways of achieving the debt forgiveness goal that don't require massive pain that will include kids experiencing highly levels and longer period of unemployment, that will put them in a hole not dissimilar to their debt.
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Most of that debt is held by or guaranteed by the govt. It'd just be another trillion on the 22 trillion pile. If we believe that the national debt doesn't matter much, and there are compelling arguments that's true, why not just let the millenials off the hook and drive all those wasted debt repayments they're making into the broader, productive (non-rentier) economy?
As to the private student loan lenders,
caveat emptor. The kind of bottom feeder who seeks to lend to kids because the debt is non-dischargeable is exactly the kind of rentier who should lose everything.
It's not perfect, but it's a hell of a lot better than saddling these kids with so much debt they can never participate meaningfully in the economy (limited consumer spending ability, no chance of buying a home, no chance of affording lids or those kids' educations, etc.).
