That's why Barack has fought so hard to increase student aid and keep interest rates down, because he wants every young person to fulfill their promise and be able to attend college without a mountain of debt.
This pattern of treating your home as an investment, and the philosophy that a pay raise means you can buy a larger home or spend more, is the foundation of today's debt-ridden society.
But over the course of recent years the reverse has been true: spending has been higher than receipts, meaning more borrowing and a growing pile of debt.