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It would likely destroy the rating of the outstanding debt and would raise serious questions around the US Government's ability to honor debt in general. I don
by save_ferris 8y ago
It would likely destroy the rating of the outstanding debt and would raise serious questions around the US Government's ability to honor debt in general.
I don't disagree that student debt is a crisis that needs to be dealt with, but the US government coming out and saying "JK, we're not going to back this debt" would surely be a disaster.
- ams6110 8y agoI think GP implied removing the guarantee on new loans. Not retroactively changing the terms of existing loans.
- creato 8y agoI think it is pretty obvious the post you are replying to meant that we would stop backing new student loans. There would be no change to outstanding debt, which would be absurd for the reasons you pointed out.
- save_ferris 8y agoah, I totally misunderstood.