Student loans could be discharged by bankruptcy in the 90s. When that was stopped, a student protest movement started up again, filling a much-needed gap in political debates.
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TBF anybody who has relied on any guarantee the US government made in this sort of context kinda has it coming. At least since the auto industry bailouts. That should have been all the warning anybody needed.
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I'm torn. If the USG confiscates gold today and pays $10/oz, should we say "well, USG already demonstrated that it can do this under FDR, so you can't complain at all" ? I've got a mental / moral model that the longer a gov policy goes on the more legitimate it is to trust it.
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It's imprudent to leave your car unlocked in a bad neighborhood. We still return the stolen car to the owner & punish the thief.
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Even granting the assumption that debt burden is unfair to students, it seems obviously and significantly LESS fair to make the people who never took on debt pay. Unless its the schools.
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Paying off debts by taxing wall st would be less helpful than UBI if wealth redistribution is the endgame.
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they should have to return the asset
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"prudent people" "government guarantees" Excuse me while I piss myself laughing
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> ... should ^ stopped reading right there
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