Occupy 2.0: Strike Debt | The Nation
“Debt is the tie that binds the 99 percent,” Occupy organizer Yates McKee has written: from the underwater and foreclosed-upon homeowners who were first pummeled by the economic crisis, to the millions of debt-strapped students who are in default or on the brink, to all those driven into bankruptcy by medical bills, to workers everywhere who have been forced to compensate for more than thirty years of stagnating wages with credit card debt, to the firefighters and teachers who have had to accept pay cuts because their cities are broke, to the citizens of countries where schools and hospitals are being closed to pay back foreign bondholders. Given the way debt operates at the municipal and national levels, the issue affects us all—even those who are fortunate enough to be debt-free, as well as those so poor they don’t have access to credit. Debt is one of the ways we all feel Wall Street’s influence most intimately, whether it’s because of a ballooning mortgage payment or a subway fare hike or a shuttered clinic.
“Debt is the tie that binds the 99 percent,” Occupy organizer Yates McKee has written: from the underwater and foreclosed-upon homeowners who were first pummeled by the economic crisis, to the millions of debt-strapped students who are in default or on the brink, to all those driven into bankruptcy by medical bills, to workers everywhere who have been forced to compensate for more than thirty years of stagnating wages with credit card debt, to the firefighters and teachers who have had to accept pay cuts because their cities are broke, to the citizens of countries where schools and hospitals are being closed to pay back foreign bondholders. Given the way debt operates at the municipal and national levels, the issue affects us all—even those who are fortunate enough to be debt-free, as well as those so poor they don’t have access to credit. Debt is one of the ways we all feel Wall Street’s influence most intimately, whether it’s because of a ballooning mortgage payment or a subway fare hike or a shuttered clinic.
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