Word of the Day
September 10, 2019
Forgiveness
The act of canceling or remitting a debt, obligation, or penalty; in economic contexts, the release of a borrower from the requirement to repay a loan.
From Old English 'forgiefan' meaning 'to give up, allow,' combined with the suffix '-ness.' In financial contexts, it evolved to mean the cancellation of debt or obligation.
Usage Examples
- The proposed student loan forgiveness program would shift billions in unpaid debt to American taxpayers.
- Critics argue that loan forgiveness rewards poor financial decisions while punishing those who responsibly repaid their obligations.
- True economic forgiveness requires voluntary action, not forced redistribution through government mandate.
From the Show
The concept of forgiveness took center stage during the September 10, 2019 broadcast as Jason McBride questioned policies that would forgive student loans after 20 years, effectively transferring $307 billion in debt from borrowers to taxpayers who never agreed to assume that burden.