Re:Payment: "Forgive U.S. our debts"; (owe)ning up to it. 

Opposing sides: Of an argument, on an issue, those that may even polarize U.S., or the two sides of borrowing, borrowers, debts, debtors...perspectives on which give us, psychologists, insights into one's persona, psyche. Money and time management, two out of the Big Three I have talked with you so much about here. Well, the combination of these just became front and center, as in one of the 'centerpieces' of the current President's campaign promises, which he is now with gusto trying to bring to fruition (great debate will be ongoing as to whether he truly has the authority), via "executive order" to wipe out billions in student debt for millions of Americans, the effects of which will likely ripple through not only current economic conversations, but for generations to come...as in "who is gonna foot the bill then...?" That's the question of the day...

"Come on man, it's only (other people's) money!" Less than a satisfying response but that's essentially what we are told...not to worry about the fact that those that entered into an agreement, terms of re-payment, no longer have to abide. Wiped clean. That's the money part, as in "free!". The Time portion of this (mis)management thing can be found in "It's all in the timing", as in just a few months before mid-term elections, in the midst of otherwise worse than dismal (whatever that adds up to, based on their 'new math') ratings, presidentially speaking. Harkening back to Carl Sagan, whose meme "Billions and billions" became a popular slogan way before Mr. Biden made it popular for another reason, at least among those who were the borrowers. As for future generations, who might be watching and listening to all of this, what are we teaching, what are they learning, instrumentally about...

PromiSorry Notes: "Promissory note: "A financing, debt instrument, in which one party promises in writing to pay..." No longer! This has now been replaced by another meme, "Forgiveness is sometimes easier to get than permission" Go ahead, "don't worry about it"..."you don't owe me a thing"..."pay me when you can...or feel like it..." But generations wa-y-y-y into the future will certainly be saying in unison, a chorus, when confronted by the specter of having to pay billions and billions and billions...to make up for all this..."You owe US a HUGE apology"

A matter of degrees; "give me some credit": Not just to what degree will they go in wiping out debt with the stroke of a pen which, if you have had Accounting 101, has to be accounted for with some raising of funds (AKA "Taxes!") to have a balanced (sheet) approach, without adding to the "trillions and trillions"...but also the actual college degree you might pursue with this loan you just signed on to (now null and void?). A while back a chorus of financial advisors and money columnists agreed that the top two best investments included 1) investing in education -- depending on the degree, one which held good prospects for employment a few years out, with plenty of government sponsored research to guide you; a 30k loan could foreseeably be amortized over a relatively short period of time, given that within five years you could be making about 30k more than of you did not earn the degree...thus, a loan becomes an 'investment', not a 'bad debt'; and 2) pay off your credit card as you would be hard put to find a stock that would give you the rate of return you are paying in interest. Of course, these were hallmarks of good money management, wise investment advice before...the last remnants of conventional wisdom ("live under your means son...don't borrow more than you can handle or intend on paying back...") were completely "wiped out!" Out with the old...

In, with the newfound (money); dine and (door) dash: The Old: "I'd gladly pay you Tuesday for a hamburger today" New: "Pay?! who pays anymore; no need for cash, just dine and..."