I’m quite sure Obama would think it appropriate and worthy of his mettle. So, let see what Cicero said, facing the same tests of private and public ownership and personal responsibility:
“When politicians, enthusiastic to pose as the people’s friends, bring forward bills providing for the distribution of property, they intend that the existing owners shall be driven from their homes. Or they propose to excuse borrowers from paying back their debts.
“Men with those views undermine the very foundations on which our commonwealth depends. In the first place, they are shattering the harmony between one element in the State and another, a relationship which cannot possibly survive if debtors are excused from paying their creditor back the sums of money he is entitled to. Furthermore, all politicians who harbour such intentions are aiming a fatal blow at the whole principle of justice; for once rights of property are infringed, this principle is totally undermined.”
I can only sense that CNBC’s Santelli suggested the same in his rant on the trading floor.
So, what did Cicero suggest ?
“The real answer to the problem is that we must make absolutely certain that private debts do not ever reach proportions which will constitute a national peril. There are various ways of ensuring this. But just to take the money away from the rich creditors and give the debtors something that does not belong to them is no solution at all. For the firmest possible guarantee of a country’s security is sound credit…
So the men in charge of our national interests will do well to steer clear of the kind of liberality which involves robbing one man to give to another.”
Now, I fully concede GW was an accomplish in this; but it is the three headed hydra currently in Congress and the white house that have put the pedal to the medal and hit the nitrous button.
We’ll see if they slow down long enough to catch a clue and not throw the people in front of oncoming traffic, but for a guy that I’m sure has studied Cicero as steeped in academia as Obama is; I doubt it.