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Yeah, but there are a lot more people taking out loans then are paying them back. Most students aren't able to pay for the loans they receive because they can't find a job after they graduate.
But my question was where does the money come from?
though the representation of the people by taxes, loans and bonds and from the federal government resources of other countries.
But where does the money come from, how do they get it before those grandchildren are born. I understand that later generations will be paying, but how do they get the money beforehand?
They borrow what they can. Or they will as long as they can find anyone still willing to loan them more. The monstrous debt run up by the Obama administration has trimmed the pool of lenders. What can't be borrowed is monetized.
I've heard that the government is printing more and more money.
That is the answer I was looking for, What they can't tax for, they borrow, what they can't borrow they print. All making the economy worse for Joe Smoe.
Exactly, and when they print money tuition prices go up because they inflated the costs.
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Well our education system is horrible. College students are coming out of college in debt and can't find a job. I used to work at a restaurant and half the servers had college degrees. I don't see the return, all I see is debt and poor education.
Exactly the same place: our grandchildren. Well, after this administration, our great-grandchildren.
My point was the money doesn't exist. They have to print it, cause inflation, and push prices up such as tuition prices. Just like the housing bubble, there is a student loan bubble. Tax payers will be expected to pay.