South By North Strategies, Ltd.

Naked Capitalism joins the debate about the social consequences of escalating student loan debt, as described in a recent article in The New York Times.

One of the distressing threads in the article was elected officials and even students arguing that it was completely reasonable to expect students to carry most of the freight of their education. I wonder if any of the ones over, say, 35 giving that view would be anywhere near as comfortable as they are now if that had been required of them. You can see the open, casual rendering of one of the obligations of society, that of educating the young.
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I’ve never understood when (once in a while) someone (clearly young) shows up in comments and rails against Social Security and Medicare because of the burden it imposes on him. Now I get it. The student debt issue is deepening social fractures. If young people are asked to stand on their own, and given only unpalatable choices (forego a college degree, the entrance ticket to middle class life, or accept debt slavery at a tender age), no wonder they adopt a “devil take the hindmost” attitude. I hope some of these people who so cavalierly argue for loading up the next generation with debt realize that the young may not want to take care of them either, and they are far more at risk. The outcome of cutting social safety nets to the elderly ultimately means that old people will die faster.