Contracts have fine print. Promises have social context. (more…)
When you include “off balance sheet” debts, which essentially are the “present value of future obligations” (mainly Social Security and Medicare, but also military and other federal employee pensions) , the US national debt is closer to 86 trillion.
All other entities, individual or corporate, are required to include “present value of future obligations” in their balance sheets, but governments are not.
Wo unto the liar, for he shall be thrust down to hell. Thrust by whom? The scripture doesn’t say. In God’s thrift, probably by the liar himself. (more…)
We live in the Age of Entitlement. But the biggest entitlement is neither a government program nor an affect instilled by too many self-esteem programs. The biggest entitlement is the expectation of perpetual economic growth.
It is sometimes said that the British and American people are still today, in the twenty-first century, indecently obsessed with the Second World War. The reason is not far to seek. We know that here was something which our parents and grandparents did well, in a noble cause …
— Thus Max Hastings
The (eternal) community of human beings – in the sense of the eternal relations such as parent-child, ruler-subject, teacher-student, sibling-sibling, which no one can avoid participating in – is a more basic reality than the individual people who conform to it.
It is, unsurprisingly, perfectly cromulent to the restored gospel.