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I have been taught the U.S. Constitution mandates ALL spending must be initiated through Congress. If this is correct, then the above cited Act is not constitu
by jhancock 18y ago
I have been taught the U.S. Constitution mandates ALL spending must be initiated through Congress. If this is correct, then the above cited Act is not constitutional.
There are many that argue the Fed has long been exercising powers it does not have. We shall see how much longer this behavior continues.
- deleted 18y ago[deleted]
- anamax 18y ago(1) Creating money isn't spending. And, technically congress merely controls govt spending and the fed, so the argument goes, isn't really govt. (2) "The Fed is unconsitutional" argument was lost long ago.