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Article I, Section 8, Clause 5: The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.
Article I, Section 10, Clause 1: No State shall coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
They may as well throw the thing out. It's been molested to the point of being essentially void.
The Constitution says the bills of the United States have to be paid. It does not mention borrowing the money to pay those bills.
The economy of the United States is not that much difference than your own. If you find yourself in a position where you cannot pay the rent every month do you borrow the money every month to pay the rent? No. You reduce your discretionary spending. Instead of getting season tickets to the theater you take that money and use it to pay the rent. Maybe you go out to dinner less often and let the date night babysitter go. Maybe you stop giving to charity. You cut down on the spending to make the bills. Which is exactly what the government should do.
The founding fathers borrowed money to pay for the Revolutionary War
They set the example
Article I, Section 8, Clause 5: The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.
Article I, Section 10, Clause 1: No State shall coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
They may as well throw the thing out. It's been molested to the point of being essentially void.
As you can see, the gold and silver restriction is on the states, not the federal government.
Nor is it a limitation on what states may use to pay their debts. They can use the federal legal tender OR they may use their own legal tender, but it must be gold and silver.
Article I, Section 8, Clause 5: The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.
Article I, Section 10, Clause 1: No State shall coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
They may as well throw the thing out. It's been molested to the point of being essentially void.
As you can see, the gold and silver restriction is on the states, not the federal government.
Nor is it a limitation on what states may use to pay their debts. They can use the federal legal tender OR they may use their own legal tender, but it must be gold and silver.
Article 1, section 7 explains how to pass a bill. Maybe now that they have read the instructions they can actually do it a little more often.
The federal government does coin money. That is not the same thing as the actual printing of it.
And they regulate the value of it.
Just because they are deliberately debasing the shit out of it when they borrow money from the Fed (monetizing the debt) does not mean they are not in control of its value.
The Fed cannot arbitrarily decide to print more money without government approval to do so. Whether or not the Fed existed, we would have a $16 trillion debt, and we would have the same amount of money in circulation.
Probably more. Much, much more.
Article I, Section 8, Clause 5: The Congress shall have Power To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures.
Article I, Section 10, Clause 1: No State shall coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debt.
They may as well throw the thing out. It's been molested to the point of being essentially void.
House adorned until 12:00 then debate on Sandy relief bill.
House adorned until 12:00 then debate on Sandy relief bill.
What are they adorning it with? Tinsel?
He has probably read it.Rep. McClintock seems to still believe that the Sandy bill is full of pork. Where is he getting his information? How does he make his assessment of situations and decisions about actions?
House adorned until 12:00 then debate on Sandy relief bill.
He has probably read it.Rep. McClintock seems to still believe that the Sandy bill is full of pork. Where is he getting his information? How does he make his assessment of situations and decisions about actions?
Have you? IT [the bill] is chock full of spending that has nothing to do with disaster relief.