Doesn’t Matter Who Wins the K Race; We’re All the Same

[Replaced_Texan]

Originally Posted by sebastian_dangerfield

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.).

Anne Helen Petersen at Buzzfeed is one of my favorite longform authors, and she did a piece on student debt a few days ago.

It's not the first, or the last, but it is really compelling and does an awesome job at showing how fucked over we have become in thinking that we live in an every-man-for-himself society rather than moving together to invest in the collective good.