Reply to Less than half of Americans have a four-year degree

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Yes, precisely why student loan forgiveness is so popular.   The majority of people resent seeing their tax dollars spent that way.  Plus a good percentage of those that took advantage of loans have paid them off, so also resent seeing their tax dollars going to pay off loans.

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You fundamentally misunderstood how federal spending works.  The US Gov doesn’t need tax dollars to “pay” for anything.  We have a free-exchange, fiat currency, of which the US Gov is the only source.  It taxes and borrows for other reasons (to curb inflation, influence interest rates, and to combat consolidation of economic and political power, among others), but your federal taxes aren’t truly paying for things.  That’s just obfuscation by politicians who really oppose things on philosophical grounds.  [/quote]

You fundamentally misunderstand why the student loan issue became a problem.  It is because the Government became the guarantor of the loan, so no risk to the lender.  Students ability or type of degree sought didn't matter, lender would be repaid.   While tax dollars per say do not pay of the loans, the Government still does.  Sure it could be through printing more currency and the resultant inflation becomes a hidden tax.  In any case a large number of people are paying the price for people who took out loans and now cannot pay them back.  Perhaps it is time to have another civilian conservation corps, the those who are having their loans forgiven can perform community service and work off the debt, reducing public spending in other areas.[/quote]

The problem with this thinking is that the government gives grants, subsidies, tax breaks to a gazillion different stakeholders.  If you believe in this thought process, then everyone needs to be cut off...various industries (oil, gas, renewables, farmers, etc.)...all the folks on basically fake disability and other forms of welfare, etc.

The amount of loan forgiveness is a drop in the bucket in the scheme of all the groups getting handouts.[/quote]

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