Anybody that went to a college has taken a course in economics, well I suppose if one really worked at it one could not take one. But just having a basic education one learns a little about economics, unless you firmly believe that you must still have money in the bank if you still have checks.
And yes to many think hat they can spend, spend, spend, and never have to worry about paying, or that they can declare bankruptcy and keep everything.
Those 16,000 IRS agents, what if they come to your home and say "Your share of the government debt is $200,000. We're here to collect!".