Shane Claiborne’s Budget Babbling

Writing for the Huffington Post, Shane Claiborne is also asking “What Would Jesus Cut?” I’m still opposed to the whole notion of reducing Christ to budget director, as my earlier post points out. Continue Reading...

Finding Morality in the Federal Budget

Budget battles have heated up recently throughout the United States, and President Obama’s budget proposal has not been exempted from the intense discussion. The current proposal by the President pushes our national debt to $15.476 trillion or 102.6 percent of our GDP.  Continue Reading...

‘A’ for Austerity: The New Scarlet Letter

I introduced this week’s Acton Commentary yesterday with some thoughts about “The Audacity of Austerity.” In today’s “‘A’ for Austerity: The New Scarlet Letter,” I take to task the attitude embodied by Paul Krugman’s vilification of proponents of austerity measures. Continue Reading...

Forms of ‘Financial Oppression’

From Marketwatch today, “Morgan Stanley warns on sovereign defaults”: “Outright sovereign default in large advanced economies remains an extremely unlikely outcome,” they said. But bondholders could suffer losses from forms of “financial oppression,” such as repaying debt with devalued currency, the analysts warned. Continue Reading...

Debt, Welfare and the Road to Serfdom

Simon Johnson and Peter Boone wrote an interesting article the UK Telegraph Saturday called “The New Feudal Overlords of Europe will be the bankers of the ECB.” Johnson is also the co-author along with James Kwak of a thoughtful and provocative book 13 Bankers as well as a blog on economics. Continue Reading...

Debt, Credit and the Virtuous Life

This week’s Acton Commentary: Our economic life is concerned with more than just the objective exchange of goods and services. Far from being morally neutral, it is an expression of how we understand our dependence on God and neighbor and is the means by which we fulfill, or not, our obligations toward them. Continue Reading...