> federal debt is like a blank check that nobody is personally accountable to repay.
that statement is applicable to rising costs in, e.g. federally (or state or municipality) funded infrastructure programs such as the subway construction project that was one of the examples in the article.
the individually assumed debts (student loans, home mortgages) are being paid back and there is accountability there. however, the individual accountability of those debts is not a way out of the cost disease. the fact that individuals are now willing and able to take on larger and larger debts to pay for these perceived essentials is exactly the reason why those things keep going up in price: the buyer's have more money to pay for them (even if it debt and not really wealth).
that statement is applicable to rising costs in, e.g. federally (or state or municipality) funded infrastructure programs such as the subway construction project that was one of the examples in the article.
the individually assumed debts (student loans, home mortgages) are being paid back and there is accountability there. however, the individual accountability of those debts is not a way out of the cost disease. the fact that individuals are now willing and able to take on larger and larger debts to pay for these perceived essentials is exactly the reason why those things keep going up in price: the buyer's have more money to pay for them (even if it debt and not really wealth).