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The IMMorality of the Growing Public Debt

12 Feb

Sometimes articles on moral Catholic and Christian teaching are so good I wish I could post the entire writing. This is one of those teachings worth printing, bookmarking, etc. from Monsignor Ignacio Barreiro-Carámbula
Interim President of Human Life International

Monsignor clearly points out the immorality of Big Government enslaving people and it’s future generations.
“If we promote the family and the related idea of generosity with life, we have to be concerned with the ability of young couples to form and raise their families. In order to raise children, a family needs a degree of economic stability; and even more it needs a real non-inflationary economic growth that steadily creates jobs, and also allows for the reasonable increase of salaries in real terms. As a consequence, we should promote an economy that will not be depressed by the obligation of paying off our growing public debt. It is time to discuss the moral injustice of constantly increasing the public debt limit.

The troubling situation of skyrocketing public debt has to be seen within the context of the current economic crisis. This crisis has short term causes in the mismanagement of financial institutions in the U.S. as well as in the housing bubble that was produced, in part, by government programs that decoupled the normal risk calculations from loan interest rates and policies. But it also has long term causes, which include the reduced birth rate and the constant growth of public spending, which in turn leads to a ballooning debt. The reduced birth rate decreases the effective demand of goods and services and puts a growing pressure on the social security systems, as fewer active workers have to sustain a growing number of retirees.

On both sides of the Atlantic the erroneous theories of John Maynard Keynes have been, and still are, being put into effect. He taught that in times of economic crisis consumer demand must be stimulated by government investment, and that an “attitude of saving” must be discouraged, as was recently noted by Ettore Gotti Tedeschi in L’Osservatore Romano.”

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“The current generation must now accept as obvious that it has arrived at the point at which it can no longer pay its debts. To put it in simple terms, we can’t “kick the can down the road” anymore, because we’ve come to the end of the road.  Defaulting on our debt will destroy the contemporary illusions of society regarding the competency of contemporary governments to effectively govern. It will convince many members of society that the federal government has to reduce itself to the primary functions of the state which are the maintenance of law and order, and leave many other meritorious but secondary functions in the hands of the states or local communities, applying the traditional principle of subsidiarity.”

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One response to “The IMMorality of the Growing Public Debt

  1. seminole13

    February 12, 2011 at 11:05 AM

    Most certainly the Monsignor hit a home run with his article. I couldn’t possibly agree more with his points.

    Still, when I atternd Mass tomorrow 99% of those in the Communion line will belong to and devoutly support the Democrat Party whose agenda runs contrary to the wisdom articulated in the Monsignor’s truths.

    I can only pray that these ideas can gain traction in the Church.

     

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