> What I don't understand is how people can support Fannie Mae/Freddie Mac/Sallie Mae loan guarantee programs and not UBI-style welfare programs.
The guarantee programs are different because if someone defaults on a loan, presumably you can repossess the house and recoup some of the investment. If you distribute basic income and someone blows it all on garbage - what then? Do we let the person die? Do we subsidize further welfare programs to provide food/shelter/healthcare?
I am not an economist - just a person trying to understand. At my current understanding of UBI I don't think I support such a program.
The guarantee programs are different because if someone defaults on a loan, presumably you can repossess the house and recoup some of the investment. If you distribute basic income and someone blows it all on garbage - what then? Do we let the person die? Do we subsidize further welfare programs to provide food/shelter/healthcare?
I am not an economist - just a person trying to understand. At my current understanding of UBI I don't think I support such a program.