The only way I see out of this hole in through hyperinflation, making fools of the Chinese and collapsing the dollar. In which case, the students will owe less debt at some pt.
They could not borrow or tax any more and simply went out of business. NOBODY wanted to put the USSR back together again and nobody will want to put the USA back together either. Power will revert back to the states just like the satellite countries. And then we begin the process of centralizing power and wealth again....................