it is essential we stop thinking of public subsidization and protection of private universities and banks as a public good, accurately diagnose the generational debt slavery such policy has caused as an existential threat, and fix it
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4. Switch government funding away from demand-side subsidies to supply side (just fund public schools directly)
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public schools already are funded directly. cost of attending must public schools is perfectly reasonable / manageable.
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Couldn’t agree more. I heard your Reason podcast the other day, and you’ve got another fan. Keep at it!
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thanks, man, glad you enjoyed it!
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The fact that mortgage interest is deductible while rent and student loan payments aren’t is a giant
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These haven't been deductible for generations before millenials were born, yet somehow we managed
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Yes, at 1.5 trillion and more than the credit card debt in the US. And you can’t default on it either, it delays major expenditures and exacerbates the political effect of QE
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It’s actually weirdly hard to find data on where and how student loans are causing problems for people. Best all-round figure I’ve found is default collections, which reached ~3billion a quarter in 2018
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Almost by definition collections are likely to trend up - as far as I can tell, mandated amounts aren’t enough to make inroads on the principal. Potentially looking at big consumption/real income overhang
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