Certainly there is a collective responsibility. I have to say that the collective responsibility is best met by groups such as those under the umbrella of Catholic Charities, or by Catholic and Christian international charitable groups. The Missionaries of Charity, founded by Mother Teresa, for example, does great good and is never bogged down by needless bureaucracy or regulation.
In my own area, the diocese operates a diner which is open to anyone who comes for a free meal every day of the year. There are something like 6,000 volunteers who assist in its operation. No overweening bureaucracy there either.
I am continuously astonished, however, by the overall impression I often perceive from those advocating for more governmental benefits: the idea that the debt doesn’t matter, that unfunded liabilities don’t matter, even that government actually knows how to solve serious economic problems. Mostly, it doesn’t. Because really, bureaucrats are no smarter than the rest of us, and make just as many bad decisions.
Sure, governments can print money, or create it from the computer. So can banks. The total wealth of a country, however, is simply it’s gross national product, and if there is more money than needed to represent those goods and services, inflation must result. And inflation hurts the poor much more than it does the rich.
Bernanke and company think they are helping by keeping interest rates near zero. But that hurts—and is an injustice to—widows who are trying to live on insurance proceeds.
Not only that, but the deficit has now reached an unsustainable tipping point, and not only in the U.S. but in many European governments. Centralized federal welfare programs are at base supported by a dwindling share of workers. That’s partly a result of depopulation policies which have been pursued, to the national detriment, over the past sixty or seventy years.
Governments have only two sources of income—taxes and borrowing. Sure, we can tax the rich all we want, but no amount of taxing the rich and printing money will get us to the point of a balanced budget, nor will it make a dent in the unfunded liabilities overhanging the future economy. And at some point it will become counterproductive.
How much economic destruction are we willing to risk for the sake of our entitlements?
In my opinion it may already be too late.