Thank you for your response, John Zelnicker. I agree that no measure is perfect and that Congress already has the power to spend what it deems necessary. However, the entire point of the American Constitution, as I understand it, is to put restrictions on the powers of the government.
Giving Congress the right to print and spend as much m…
Thank you for your response, John Zelnicker. I agree that no measure is perfect and that Congress already has the power to spend what it deems necessary. However, the entire point of the American Constitution, as I understand it, is to put restrictions on the powers of the government.
Giving Congress the right to print and spend as much money as it "deems necessary" is a lot of power and a giant potential for abuse. I guess looking at unemployment and inflation numbers and making spending decisions does make more sense than an aribtrary debt ceiling. It would be nice if the US government acted as an "employer of last resort" as it makes a lot more sense to be paying people to work than not to work.
In short, I guess what you are trying to say is that Congress already has the power to spend what it wants to and the arbitrary debt ceiling does nothing to curb this power but only muddies the conversations. I am finding it difficult to disagree with this.
Thank you for your response, John Zelnicker. I agree that no measure is perfect and that Congress already has the power to spend what it deems necessary. However, the entire point of the American Constitution, as I understand it, is to put restrictions on the powers of the government.
Giving Congress the right to print and spend as much money as it "deems necessary" is a lot of power and a giant potential for abuse. I guess looking at unemployment and inflation numbers and making spending decisions does make more sense than an aribtrary debt ceiling. It would be nice if the US government acted as an "employer of last resort" as it makes a lot more sense to be paying people to work than not to work.
In short, I guess what you are trying to say is that Congress already has the power to spend what it wants to and the arbitrary debt ceiling does nothing to curb this power but only muddies the conversations. I am finding it difficult to disagree with this.
See Prof. Kelton's latest post that was published since your comment:
https://stephaniekelton.substack.com/p/these-are-the-times-that-try-mens