[Rushtalk] Constitutional amendment: Challenges to debt

Carl Spitzer cwsiv at keepandbeararms.com
Tue Nov 12 10:26:15 MST 2013

-------- Forwarded Message --------
From: Jon Roland <jon.roland at constitution.org>

Additional substantive proposed amendment:

Challenges to debt

        No debt by the United States or any department thereof shall be
        incurred or held valid that funds consumption by other than
        military personnel and militia personnel in federal service; and
        any person may challenge the validity of any debt, whereupon the
        government shall have 20 days to prove it is authorized by law
        and not for consumption except as provided above, failing which
        the debt shall be deemed null and void.

This amendment would forbid going into debt to fund entitlements, which
are consumption. It would allow only debt that was for productive
purposes, preferably with a rate of return that exceeded the cost of
borrowing. However, there does not appear to be a way to formulate that
additional restriction on borrowing that would be justiciable, so I left
it at this. Of course, this still leaves open the question of what is
"consumption", but that can be defined in legislative debate as anything
that can not be expected to return more tax revenues than it costs.

If you like the proposal, pass it on. Suggestions for improvements are

-- Jon

Constitution Society               http://constitution.org
2900 W Anderson Ln C-200-322           twitter.com/lex_rex
Austin, TX 78757 512/299-5001  jon.roland at constitution.org

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