Yeah, no. It is media brainwashing. We spend half that every year on killing people in wars.
"According to the Federal Reserve Bank of New York, outstanding student loan debt in the United States lies between $902 Billion and $1 Trillion"
"In calendar year 2013, military spending declined from $671 billion to $619 billion, in constant 2011 dollars. In dollar terms, this was the largest decline since 1991. The reduction in U.S. operations in the Middle East and the sequester mean this figure is likely to fall again in 2014."
I don't think you're understanding the angle I'm coming from. I don't disagree that the amount of student debt is disgusting, I just don't believe having the government buy up all the student loan debt and forgiving the debtors will fix anything. The mindset of a debt-driven society won't have changed.
But if the mindset isn't changed then this economic fix would last about 6 months at best. Then instead of it being student debt it would be housing/automotive/credit card debt. The society we live in is so enamored with the idea of going to college because it will help us get the "good life", and that would carry on even if existing debt was wiped out, it would just move somewhere else. Without changing the mindset, what happens to the next group of people that decide to take on the debt of going to college?
I'm now anxious to pay off my debts (student, auto and credit card) because my mindset has changed. Instead of wanting to get rid of my debt to have more money to spend, I want to get rid of my debt so I'm not a slave to the system. I don't like having to leave the house in the morning just as my sons are waking up, driving fourty-five minutes, getting home a half hour before my sons go to bed five days a week just so we have enough money to survive and keep collectors at bay.
If we ask the government to pay existing student loan debt, debtors won't be able to just walk away, there will be some kind of chain attached to their ankles whether they see it or not.
The government shouldn't have to pay for ANYTHING to bailout debts. Of course, it DOES bear responsibility because it encourages going into debt rather than saving, but that's a whole other story...
And since you're into number: healthcare services and social security take up to 49% of the federal budget - defense is at 32%