Economics/Class Relations

How the Constitution Constrained Federal Spending and Debt

TUESDAY, JANUARY 24, 2023

The basis of our government being the opinion of the people, the very first object should be to keep that right; and were it left to me to decide whether we should have a government without newspapers, newspapers without government, I should not hesitate a moment to prefer the latter.
Thomas Jefferson, Letter to Colonel Edward Carrington [1787]

HORNBERGER’S BLOG

January 24, 2023

How the Constitution Constrained Federal Spending and Debt
Given that the debt-ceiling debate is likely to continue for a few months, examining the Constitution provides us with the reasons our nation has been plunged into this monetary morass.  Federal officials have now run up the federal government’s debt to more than $31.5 trillion. That’s a lot of money. And it’s also a lot of interest payments.  Too much debt …

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