A third-grader is in trouble with the law after he showed up at Atlas Elementary School armed with a knife he'd taken from his mother's purse Monday. The Kootenai County Sheriff's report says the student told a classmate, who told a teacher, which prompted a search by the school's principal that uncovered a knife in the eight-year-olds back pocket. ... A sheriff's report says the student told a deputy he planned on using the knife to go fishing, and in according to the same report, he'd brought matches to school in the past and had thought about bringing a gun. Superintendent Bauman maintains no one was hurt or threatened at the elementary school and that all policies are being followed. The student has been suspended for 10 days/KXLY. More here. KXLY video here.

Question: What should be done with this student?