Reap what you sow, boomers

Yves Smith links student debt and Social Security in an interesting way:

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.

Student loans should never have been cut loose from bankruptcy protection, usury limits, and other forms of common decency. Belt-tightening doesn't mean being garroted by criminals in business suits.