Millennial Debt Is Actually Quite Low
Bernie Sanders proposed today that all existing student debt—amounting to about $1.6 trillion—should be wiped off the books. Kara Voght has this to say: In recent years, researchers and policymakers have begun to view student borrowing and its side effects as an economic crisis. The Federal Reserve blames student loan debt for young adults’ declining […]
Bad charts make for bad analysis. Looking at these charts, I see a buildup of debt as age increases into middle age. I doubt the charts would bear out if taken further back in time. You have to remember that Reagan greatly increased the decline, so all charts should probably go back to pre-Reagan (probably starting at pre-Ike). If you can ignore racial factors (which we're still trying to overcome and the article's analysis doesn't cover), the late 50s was probably the high point.
