Mr. Trump has been castigated for saying that if the government goes bankrupt, he’d get creditors to accept less. That is standard operating procedure for businesses. Creditors make deals because something is better than nothing, and if a company is utterly destroyed, nothing is what they will get. They may complain, but unless they were actually defrauded, they voluntarily assumed a risk of loss, hoping to make a profit.
Tagged: social contract
What does freedom mean? What is the purpose of government? And what should be the government’s relationship to each of us as individuals and as members of society as a whole? These issues recently came up during a dinner conversation with a new acquaintance with whom I’d not previously had such a discussion.
In its recent ruling in McCutcheon v. Federal Election Commission, the Supreme Court struck down yet another provision of federal campaign finance law as a violation of the First Amendment’s free speech guarantee.
This time it was the Bipartisan Campaign Reform Act’s limitation on the aggregate amount of contributions — presently $123,200 — that a donor may contribute to all candidates or party committees in one election cycle.