ANTI DEBT HEROES #5 and #6

Astra Taylor and Hannah Appel

Astra Taylor is a filmmaker, writer, and political organizer. She often appears on Democracy Now and The Laura Flanders Show.

Hannah Appel is co-founder of the Debt Collective and a professor of anthropology at UCLA. She is also a director of the Institute on Inequality and Democracy.

Their joint article in the recent Non-Profit Quarterly is entitled “They Need Us More Than We Need Them – The Power of Debtor Organizing.”

They argue as follows:

Starting in the 1970s, the United States moved from a tax-funded welfare state (albeit one that primarily benefited white men and their families) to a debt-funded welfare state.

This has forced ordinary people to go into debt to obtain what should be publicly financed goods.

 Over the last half-century, formerly public higher education became ever more expensive, healthcare costs skyrocketed, and housing became a speculative asset rather than a roof over peoples’ heads.

 Creditors now have enormous power over people’s lives. We debt-finance our healthcare, education, housing, and even our own incarceration!

When debtors can’t pay, they are disciplined with steep penalties, high interest rates or loan denials, and damaged credit scores—not to mention poverty when unpayable bills come due.

 State power is often deployed to enforce unfair financial contracts through court judgments, garnishments, and even jail time.

 You Can’t Fight This Alone

Taylor and Appel do not advise financial suicide—i.e., where individuals simply refuse to repay debts. Debtors alone cannot take on privatization and corporate power.

Instead, they propose that debtors organize, and use favorable legislation, to extend public subsidies for health care, education, etc.

 They stress that the experience of debt—its battery of past-due bills and collection notices—does not need to be one of private shame and isolation. 

The creditors—i.e., the Federal Student Aid office or a Wall Street landlord—are not, in fact, all-powerful if they are confronted with intelligent and vigorous regulations.

Per Taylor and Appel, the creditors need us — and our monthly payments — far more than we need them. 

Legal debt forgiveness is a good first step; funded public service is the real goal.

You can find their articles on Google under the themes of “Can’t Pay, Won’t Pay,” and “There is Power in a Debtor’s Union.” 

They are a great national asset!

To read more on the series of Anti-Debt Heroes check out the previous article.