And impeach the president: The political and economic blog of a strict constitutionalist.

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Friday, July 29, 2011

An open letter to President Obama -- How to solve the national economy and debt limit

An open letter to President Obama:

Mr. Obama:

I am writing to talk about the debt crisis. I understand that many programs are referred to now as "Entitlements", and that this has become a bad name.

I want to give them another name: Promises to pay from the government.
And yet another name: Just compensation for a past taking.

You are a lawyer. You know that the taking of private property (including money) for the public good (including retiring older workers to make sure that newer workers have job opportunities) without just compensation is unconstitutional. The federal government has engaged in a taking, and has undertaken a promise to pay. The federal government has no authority to reduce the payment without risking lawsuits about just compensation for a forced taking (social security is an example of a forced retirement and disability insurance program). For all the talk of forcing people to engage in private insurance, consider that if the federal government cannot keep its insurance promises, why would anyone expect private insurances to keep their promises? (And look at Katrina, Louisiana, and the private insurance companies there).