Posts tagged with: James Buchanan

noun_project_19538As the US federal government sidled up to the debt ceiling earlier this week without quite running into it, one of the key arguments in favor of raising the debt ceiling was that it is immoral to breach a contract. The federal government has creditors, both from whom it has borrowed money and to whom it has promised transfer payments, and it has an obligation to fulfill those promises.

As Joe Carter argued here, “Member of Congress who are refusing to raise the debt ceiling (or raise taxes) until their ancillary demands are met are acting immorally, since they are refusing to pay the debts they themselves authorized.”

But as Connie Cass writes, the idea that the United States has never defaulted isn’t quite true. As she writes,

America has briefly stiffed some of its creditors on at least two occasions.

Once, the young nation had a dramatic excuse: The Treasury was empty, the White House and Capitol were charred ruins, even the troops fighting the War of 1812 weren’t getting paid.

A second time, in 1979, was a back-office glitch that ended up costing taxpayers billions of dollars. The Treasury Department blamed the mishap on a crush of paperwork partly caused by lawmakers who — this will sound familiar — bickered too long before raising the nation’s debt limit.

So if it is immoral to default, then America has done so at least twice.
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The Emperor Theodosius does public penance for his own scandal before the bishop St. Ambrose.

Ray Pennings recently wrote a thoughtful reflection at The Cardus Daily on the recent surge in (exposed) political scandals, Canadian and American. He bemoans that “the current version of democracy isn’t looking all that attractive right now,” writing,

It is discouraging to read stories regarding blatant ethical questions involving the President of the United States, Prime Minister of Canada, the Canadian Leader of the Opposition and the Mayor of Canada’s largest city on the same day. Although the natures of these purported scandals are quite different from each other, the bottom line reduces to the same — can we count on our leaders to carry out their office with the basics of integrity and transparency? Whatever the facts are regarding the specific cases, at a minimum it must be said that those involved in each of these cases have been less than forthcoming in explaining themselves. If the events themselves don’t merit the scandal label, the lack of explanation almost certainly does.

To summarize, even apart from the scandals themselves, the proclivity of politicians not to be forthright about the details is itself a scandal. (more…)

According to Daly, Soviet government sought to dictate every aspect of life in the name of the common good, including the indexing of Soviet publications by libraries. He writes, “[I]f Soviet publications failed to end up in libraries, then, as Lenin railed, ‘we have to know precisely whom to imprison.'”

In the Winter-Fall 2012 issue of Modern Age (54, nos. 1-4), Jonathan Daly contributes a helpful exploration of what happens when desire for the common good goes bad. His article, “Bolshevik Power and Ideas of the Common Good,” focuses on the disastrously ill-conceived effort by the Russian revolutionaries to promote the common good through their self-proclaimed “revolutionary dictatorship of the proletariat.”

Daly contends, “The horrors of Bolshevik governance stemmed directly from their repudiation of the precious fruits of Western political thought.” It is a classic example of the tendency of some to promote cheap moralisms while ignoring the empirical realities of any given context, what then Joseph Cardinal Ratzinger termed in 1985, “the antithesis of morality.” In addition to fostering mass suspicion, starvation, and ultimately a despotic police state in Russia, the Bolsheviks also have the blood of literally millions on their hands, Orthodox Christians as well many Roman Catholics, Protestants, Jews, and others—the rotten fruit of their noble quest for the common good. (more…)

As noted already at the PowerBlog today, Sam Gregg has a fine piece on the complex relationship between law and morality, or constitutions and culture, over at Public Discourse.

As a follow-up (read the piece first), I’d like to point to an interesting aspect of James Buchanan’s advocacy of a balanced-budget amendment. As Gregg notes, Buchanan is an example of someone who thought that “America’s constitution required amending to bestow genuine independence upon a monetary authority,” or advocated for the “constitutionalization” of money. A related effort would be Buchanan’s efforts in support of a balanced-budget amendment to the American Constitution, as explored by James Alvey in his piece, “James M. Buchanan on the Ethics of Public Debt and Default.”
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