(Updated, October 31, 2008, approx. 0300 hrs.: here is a subsequent comment that I made in order to clarify the first one:
In order to eliminate any ambiguity in my answer to Nickname’s question at 11:59 p.m., October 29, let me re-phrase the first part as follows:
“By the personal act of receiving Holy Communion worthily (or the personal act of offering the Holy Sacrifice worthily), one merits increase of grace and glory, but does not make satisfaction for sin …”
A footnote to the section on Holy Communion in the 1923 McHugh/Callan translation of the Catechism of the Council of Trent mentions this.
(Here is my original post.) Here is a comment that I made at Rev. Fr. John T. Zuhlsdorf’s blog:
Nickname, you asked
“would receieving Holy Communion in reparation for the sins and offenses of priests (for example this priest’s blasphemy) be something I can do? Or would it be a sin to do that?”
By receiving Holy Communion (or offering the Holy Sacrifice), one merits increase of grace and glory, but does not make satisfaction for sin. See the Catechism of the Council of Trent’s section on Holy Communion.
Instead, we must offer up prayers, fasts, watches &c. in reparation for these heresies.