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The National Debt: Congress Abuses The Power To Borrow

In addition to spending tax revenue on necessary expenditures, the Constitution also authorizes Congress to borrow money on the credit of the United States of America. At the time of the Constitutional Convention in 1787 the nation faced an enormous crisis as a result of the war debt. Thus, the power to borrow was intended [...]

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The National Debt: Congress Abuses Borrowing Power

The Constitution authorizes Congress to borrow money on the credit of the United States of America. At the time of the Constitutional Convention in 1787 the nation faced an enormous economic crisis as a result of the Revolutionary War debt. Thus, the power to borrow was intended to be applied only in times of legitimate [...]

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The Founding Fathers on Federal Spending

Although the power to tax was explicitly granted to Congress in Article I Section 8 of the Constitution, the Founders narrowly defined the items tax revenue could be spent on. This provision gave Congress the authority to use tax revenue to defend the nation and to liquidate the nation’s lawful debt. At the time of [...]

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