I love the twitter metrics how paying off all student debt would suddenly creat jobs, people would be all middle class, and gov't taxation would soar. What thes

I love the twitter metrics how paying off all student debt would suddenly creat jobs, people would be all middle class, and gov't taxation would soar. What these 1st semester economics majors forget is suddenly you'd have an influx of people seeking degrees. Employers know that so they'll either A. Decrease wages, or B. Increase the requirements/duties because of heavy competition. Another thing, wiping out debt just doesn't magically make jobs. People who make more than you but don't have enough time to do something do. Somehow I fail to see how a few noisy self entitled afflueza stricken college kids who wanted a degree it bullshitology now deserve a kickback because they were dumb and didn't make a right choice in life. While I agree with another commenter, banks should be able to feel the sting of the default as well as the federal gov't in terms of backed student loans. Not only would college degrees not be required for many jobs simply due to the lack of them in general, but students wouldn't waste their time with nanny state experience of college anyway. Nor would they have absurd debt with a worthless degree. And colleges are just as complacent. They market this stuff to be "rewarding" and whatnot but lie through their teeth about the sheer economics about it.