This spending cap is a joke. It only applies to a tiny fraction of the Federal budget... $350B out of, what, close to $4T? Exempt are DHS, DoD and foreign aid. How transparent can you get? US gov won't stop sending more welfare to international bankers (through foreign aid) and won't stop spending even more on its already ridiculously outsized war budget. The charade is getting to be downright unbearable. I would prefer it, for sanity's sake, if these assholes would just own up... "yes, we're bilking you for close to 50% of everything you earn because we can... so get used to it." At least I could have the satisfaction of bitching about it and having everyone in the room nod their heads in agreement. How do they pull this off?? I'm in the wrong line of work.
Actually, it should have gone to the dogs, but didn't. I'm talking about Leona Helmsley's estate , of course. The contract clause of the Constitution says, "No State shall ... pass any ... Law impairing the Obligation of Contracts..." This means that private contracts cannot be changed by legislative edict. This clause is incredibly important because the willingness of private individuals to engage in profitable enterprise - which is the foundation of social welfare - crucially depends on their belief that they can realize a profit. In turn, their belief that they can realize a profit depends on their belief that they can hold parties to a contract liable to the terms in the contract. For example, lenders must have confidence that they can repossess the collateral for a loan if the loan is defaulted on. Otherwise, they will not take the risk of giving the loan in the first place. When lenders are too scared to lend, everyone is worse off. In the case of Leona Hel...
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