There’s a movement among college graduates to have the government pass a bill to wipe out their student debts. Article in the Baltimore Sun.
To Obamacrats, the logic is impeccable — if college grads didn’t have to pay back their loans, they’d have more money to spend on other stuff, thus stimulating the economy. Besides, being in debt is burdensome and might keep some people from doing “socially beneficial” jobs that don’t pay very well because they have to earn enough to service their debts. If homeowners can be bailed out of contracts they don’t like, why not college grads too?
HT: Jane Shaw.