Source: Garrison Center
by Thomas L Knapp
“‘Crisis’ is defined in the 1913 edition of Webster’s Dictionary as the decisive moment or turning point in a matter. Things will go one way, or they’ll go another. A lot of people (around 40 million) owe a lot of money (close to $2 trillion) on student loans. Those loans will be repaid, or they won’t be. The numbers are big enough and intractable enough that the resolving them clearly involves mass penury, some kind of forgiveness scheme, or a combination of both. It is not, however, an emergency. Back to good ol’ Webster’s: An ’emergency’ is a ‘sudden or unexpected appearance; an unforeseen occurrence; a sudden occasion.’ The student debt crisis has been brewing for decades, so it’s far from ‘sudden.’ Nor was the crisis ‘unforeseen’ by anyone who bothered to pay attention.” (10/24/24)