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Making fiscal responsibility a priority


February 22, 2018

Thomas Jefferson favored amending the Constitution by “taking from the federal government the power of borrowing.” He also favored a requirement that taxes would have to be sufficient for each generation to pay its own debts. Managing debt has always been a fundamental problem of American Democracy.

In the early 1990’s there was a widespread movement to amend the constitution through a “convention of the states” to require that in balancing the budget, the federal government could not do so by passing on “unfunded mandates” to the states. Now, the President’s proposal to r...

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