Fiscal conservatism

Discussion in 'Economy' started by Charles_Main, Feb 12, 2009.

  1. Charles_Main
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    Charles_Main AR15 Owner

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    Fiscal conservatism

    Fiscal conservatism is the economic philosophy of prudence in government spending and debt. Edmund Burke, in his 'Reflections on the Revolution in France', articulated its principles:

    ...t is to the property of the citizen, and not to the demands of the creditor of the state, that the first and original faith of civil society is pledged. The claim of the citizen is prior in time, paramount in title, superior in equity. The fortunes of individuals, whether possessed by acquisition or by descent or in virtue of a participation in the goods of some community, were no part of the creditor's security, expressed or implied...[T]he public, whether represented by a monarch or by a senate, can pledge nothing but the public estate; and it can have no public estate except in what it derives from a just and proportioned imposition upon the citizens at large.

    In other words, a government does not have the right to run up large debts and then throw the burden on the taxpayer; the taxpayers' right not to be taxed oppressively takes precedence even over paying back debts a government may have imprudently undertaken.
     
  2. Peejay
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    Peejay BANNED

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    So declare the debts null and our international credit goes to hell. That's fine by me but I don't think the bankers are going to like having bologna sandwiches for lunch at my house. But I think it'd be kinda cool. You know, seeing how the other half lives and all.
     
  3. Old Rocks
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    Old Rocks Diamond Member

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    Nice ideology for some alternative universe.
     
  4. driveby
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    driveby Gold Member

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    And what do you call what's being jammed down our throats right now ?
     

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