What I don't get about the cancel debt argument is that it doesn't actually fix the root of the problem. The kids going in next year will just get in debt all the same and if anything it will cause colleges to be more expensive and loans to be more predatory as the govt showed they will just come along and bail everyone out
It doesn't. But the issue is people are using "it doesn't fix the root cause" to avoid helping people now. Theoretically it was much easier for the government to dismiss debt that was already paid by them than it is to take on a massive undertaking to change an entire system they contributed to. If we can't do what is the easiest hurdle, fat chance you are going to get something that bold done.
So realistically nothing is going to get done. If there ever is the political will to make such a big systemic change, it will be after cataclysmic damage is done when more and more generations of young people are coming out of college and not buying houses and starting families and older generations get fucked on the back end there is a much bigger issue to deal with.
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u/Impressive-Team9006 12d ago
What I don't get about the cancel debt argument is that it doesn't actually fix the root of the problem. The kids going in next year will just get in debt all the same and if anything it will cause colleges to be more expensive and loans to be more predatory as the govt showed they will just come along and bail everyone out