Sen. Lindsey Graham (R-SC) has a proposal to modernize Social Security and make it solvent in to the future and it may be the basis of President Bush's policy. The proposal, called the Social Security Solvency and Modernization Act, was originally introduced late in 2003. It languished in the Senate Finance Committee because of more pressing concerns, like National and Homeland Security. However, it will be reintroduced sometime early next year after the swearing in of the 109th Congress.
The proposal grants younger workers the option of investing 4% (up to $1300) of their SS payroll taxes into a private account in the Thrift Savings Plan, a government guaranteed program. This option also allows younger people to have increased survivors benefits if something should happen to their parents and the earnings or losses from the private account will be offset by the benefits received form th 96% of the taxes not invested in the account.
Streaming discussion about the financial situation, politics, and Public Policy as well as information regarding me and my trip down the stream called finance.
Thursday, November 4, 2004
Monday, November 1, 2004
A Call to Faithful Citizenship
One of our greatest blessings in the United States is our right and responsibility to participate in civic life. Everyone can and should participate. Even those who cannot vote have the right to have their voices heard on issues that affect their communities.
The Constitution protects the right of individuals and of religious bodies to speak out without governmental interference, favoritism, or discrimination. Major public issues have moral dimensions. Religious values have significant public consequences. Our nation is enriched and our tradition of pluralism is enhanced, not threatened, when religious groups contribute their values to public debates.
As bishops, we have a responsibility as Americans and as religious teachers to speak out on the moral dimensions of public life. The Catholic community enters public life not to impose sectarian doctrine but to act on our moral convictions, to share our experience in serving the poor and vulnerable, and to participate in the dialogue over our nation's future.
A Catholic moral framework does not easily fit the ideologies of "right" or "left," nor tthe platforms of any party. Our values are often not "politically correct." Believers are called to be a community of conscience within the larger society and to test public life by the values of Scripture and the principles of Catholic social teaching. Our responsibility is to measure all candidates, policies, parties, and platforms by how they protect or undermine the life, dignity, and rights of the human person?whether they protect the poor and vulnerable and advance the common good.
Jesus called us to "love one another".3 Our Lord's example and words demand care for the "least of these"4 from each of us. Yet they also require action on a broader scale. Faithful citizenship is about more than elections. It requires ongoing participation in the continuing political and legislative process.
A recentVatican statement on Catholic participation in political life highlights the need for involvement:
Today's democratic societies . . . call for new and fuller forms of participation in public life by Christian and non-Christian citizens alike. Indeed, all can contribute, by voting in elections for lawmakers and government officials, and in other ways as well, to the development of political solutions and legislative choices which, in their opinion, will benefit the common good.5 In the Catholic tradition, responsible citizenship is a virtue; participation in the political process is a moral obligation. All believers are called to faithful citizenship, to become informed, active, and responsible participants in the political process. As we have said, "We encourage all citizens, particularly Catholics, to embrace their citizenship not merely as a duty and privilege, but as an opportunity meaningfully to participate [more fully] in building the culture of life. Every voice matters in the public forum. Every vote counts. Every act of responsible citizenship is an exercise of significant individual power."6 Even those who are not citizens are called to participate in the debates which shape our common life.
The Constitution protects the right of individuals and of religious bodies to speak out without governmental interference, favoritism, or discrimination. Major public issues have moral dimensions. Religious values have significant public consequences. Our nation is enriched and our tradition of pluralism is enhanced, not threatened, when religious groups contribute their values to public debates.
As bishops, we have a responsibility as Americans and as religious teachers to speak out on the moral dimensions of public life. The Catholic community enters public life not to impose sectarian doctrine but to act on our moral convictions, to share our experience in serving the poor and vulnerable, and to participate in the dialogue over our nation's future.
A Catholic moral framework does not easily fit the ideologies of "right" or "left," nor tthe platforms of any party. Our values are often not "politically correct." Believers are called to be a community of conscience within the larger society and to test public life by the values of Scripture and the principles of Catholic social teaching. Our responsibility is to measure all candidates, policies, parties, and platforms by how they protect or undermine the life, dignity, and rights of the human person?whether they protect the poor and vulnerable and advance the common good.
Jesus called us to "love one another".3 Our Lord's example and words demand care for the "least of these"4 from each of us. Yet they also require action on a broader scale. Faithful citizenship is about more than elections. It requires ongoing participation in the continuing political and legislative process.
A recent
Today's democratic societies . . . call for new and fuller forms of participation in public life by Christian and non-Christian citizens alike. Indeed, all can contribute, by voting in elections for lawmakers and government officials, and in other ways as well, to the development of political solutions and legislative choices which, in their opinion, will benefit the common good.5 In the Catholic tradition, responsible citizenship is a virtue; participation in the political process is a moral obligation. All believers are called to faithful citizenship, to become informed, active, and responsible participants in the political process. As we have said, "We encourage all citizens, particularly Catholics, to embrace their citizenship not merely as a duty and privilege, but as an opportunity meaningfully to participate [more fully] in building the culture of life. Every voice matters in the public forum. Every vote counts. Every act of responsible citizenship is an exercise of significant individual power."6 Even those who are not citizens are called to participate in the debates which shape our common life.
Catholic Assets in the Public Square
Our community of faith brings three major assets to these challenges.
A Consistent Moral Framework
The Word of God and the teachings of the Church give us a particular way of viewing the world. Scripture calls us to "choose life," to serve "the least of these," to "hunger and thirst" for justice and to be "peacemakers."7
A Consistent Moral Framework
The Word of God and the teachings of the Church give us a particular way of viewing the world. Scripture calls us to "choose life," to serve "the least of these," to "hunger and thirst" for justice and to be "peacemakers."7
The Role of the Church
The Church is called to educate Catholics about our social teaching, highlight the moral dimensions of public policies, participate in debates on matters affecting the common good, and witness to the Gospel through our services and ministries. The Catholic community's participation in public affairs does not undermine, but enriches the political process and affirms genuine pluralism. Leaders of the Church have the right and duty to share Catholic teaching and to educate Catholics on the moral dimensions of public life, so that they may form their consciences in light of their faith.
The recentVatican statement on political life points this out:
[The Church] does not wish to exercise political power or eliminate the freedom of opinion of Catholics regarding contingent questions. Instead, it intends--as is its proper function--to instruct and illuminate the consciences of the faithful, particularly those involved in political life, so that their actions may always serve the integral promotion of the human person and the common good.10 We urge our fellow citizens "to see beyond party politics, to analyze campaign rhetoric critically, and to choose their political leaders according to principle, not party affiliation or mere self-interest."11 As bishops, we seek to form the consciences of our people. We do not wish to instruct persons on how they should vote by endorsing or opposing candidates. We hope that voters will examine the position of candidates on the full range of issues, as well as on their personal integrity, philosophy, and performance. We are convinced that a consistent ethic of life should be the moral framework from which to address issues in the political arena. 12
For Catholics, the defense of human life and dignity is not a narrow cause, but a way of life and a framework for action. A key message of theVatican statement on public life is that Catholics in politics must reflect the moral values of our faith with clear and consistent priority for the life and dignity of the human person.13 This is the fundamental moral measure of their service. The Vatican statement also points out:
It must be noted also that a well-formed Christian conscience does not permit one to vote for a political program or an individual law which contradicts the fundamental contents of faith and morals. The Christian faith is an integral unity, and thus it is incoherent to isolate some particular element to the detriment of the whole of Catholic doctrine. A political commitment to a single isolated aspect of the Church's social doctrine does not exhaust one's responsibility towards the common good.14 Decisions about candidates and choices about public policies require clear commitment to moral principles, careful discernment and prudential judgments based on the values of our faith.
The coming elections provide important opportunities to bring together our principles, experience, and community in effective public witness. We hope parishes, dioceses, schools, colleges, and other Catholic institutions will encourage active participation through non-partisan voter registration and education efforts, as well as through ongoing legislative networks and advocacy programs.15 As Catholics we need to share our values, raise our voices, and use our votes to shape a society that protects human life, promotes family life, pursues social justice, and practices solidarity. These efforts can strengthen our nation and renew our Church.
The recent
[The Church] does not wish to exercise political power or eliminate the freedom of opinion of Catholics regarding contingent questions. Instead, it intends--as is its proper function--to instruct and illuminate the consciences of the faithful, particularly those involved in political life, so that their actions may always serve the integral promotion of the human person and the common good.10 We urge our fellow citizens "to see beyond party politics, to analyze campaign rhetoric critically, and to choose their political leaders according to principle, not party affiliation or mere self-interest."11 As bishops, we seek to form the consciences of our people. We do not wish to instruct persons on how they should vote by endorsing or opposing candidates. We hope that voters will examine the position of candidates on the full range of issues, as well as on their personal integrity, philosophy, and performance. We are convinced that a consistent ethic of life should be the moral framework from which to address issues in the political arena. 12
For Catholics, the defense of human life and dignity is not a narrow cause, but a way of life and a framework for action. A key message of the
It must be noted also that a well-formed Christian conscience does not permit one to vote for a political program or an individual law which contradicts the fundamental contents of faith and morals. The Christian faith is an integral unity, and thus it is incoherent to isolate some particular element to the detriment of the whole of Catholic doctrine. A political commitment to a single isolated aspect of the Church's social doctrine does not exhaust one's responsibility towards the common good.14 Decisions about candidates and choices about public policies require clear commitment to moral principles, careful discernment and prudential judgments based on the values of our faith.
The coming elections provide important opportunities to bring together our principles, experience, and community in effective public witness. We hope parishes, dioceses, schools, colleges, and other Catholic institutions will encourage active participation through non-partisan voter registration and education efforts, as well as through ongoing legislative networks and advocacy programs.15 As Catholics we need to share our values, raise our voices, and use our votes to shape a society that protects human life, promotes family life, pursues social justice, and practices solidarity. These efforts can strengthen our nation and renew our Church.
Themes of Catholic Social Teaching
The Catholic approach to faithful citizenship begins with moral principles, not party platforms. The directions for our public witness are found in Scripture and Catholic social teaching. Here are some key themes at the heart of our Catholic social tradition.16
Life and Dignity of the Human Person
Every human person is created in the image and likeness of God. Therefore, each person's life and dignity must be respected, whether that person is an innocent unborn child in a mother's womb, whether that person worked in theWorld Trade Center or a market in Baghdad , or even whether that person is a convicted criminal on death row. We believe that every human life is sacred from conception to natural death, that people are more important than things, and that the measure of every institution is whether it protects and respects the life and dignity of the human person. As the recent Vatican statement points out, "The Church recognizes that while democracy is the best expression of the direct participation of citizens in political choices, it succeeds only to the extent that it is based on a correct understanding of the human person. Catholic involvement in political life cannot compromise on this principle."17
Life and Dignity of the Human Person
Every human person is created in the image and likeness of God. Therefore, each person's life and dignity must be respected, whether that person is an innocent unborn child in a mother's womb, whether that person worked in the
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Monetary Reserve
This section contains link that talk about finance and economics. There are links to organizations, individual books, and articles.
Clearinghouse
- Economics Internet Library
- FRED Economic Data - St. Louis Federal Reserve
- Great Economics Library
- IDEAS/Economics and Finance Research - University of Connecticut
- Internet Public Library
- Liberty Library
- Library of Economics and Liberty
- Online Books Page
- Online Library of Liberty
- Project Gutenberg
- Questia
Austrian School
Leveraged Learning
Capital Books
- A Treatise on Political Economy - Jean Baptiste Say
- Capital and Interest - Eugen v. Böhm-Bawerk
- On the Principles of Political Economy and Taxation - David Ricardo
- Online Economics Textbooks - University of New York, Oswego
- Principles of Economics - Alfred Marshall
- Principles of Economics - Carl Menger
- Principles of Political Economy with some of their Applications to Social Philosophy - John Stuart Mill
- Road to Serfdom - Frederic A von Hayek
- Wealth of Nations - Adam Smith