I’m pretty confident that selling bonds is not the only mechanism by which the government has access to money. Selling bonds is a common way for cities and states to raise funds, but I’m pretty sure the federal government can just … fund stuff.
Bonds are the mechanism by which the government issues new money. They cannot “print money” without selling the equivalent value in bonds.
I knew that’s what you meant but I don’t think that’s true. They choose not to because there’s concerns about inflation and devaluing the dollar, but there’s no constitutional restriction on that. The necessary and proper clause is pretty broad, as is Article I, Section 8, Clause 1.
I’m pretty confident that selling bonds is not the only mechanism by which the government has access to money. Selling bonds is a common way for cities and states to raise funds, but I’m pretty sure the federal government can just … fund stuff.
No, of course the government has other sources of revenue. That’s not what I said.
Bonds are the mechanism by which the government issues new money. They cannot “print money” without selling the equivalent value in bonds.
I knew that’s what you meant but I don’t think that’s true. They choose not to because there’s concerns about inflation and devaluing the dollar, but there’s no constitutional restriction on that. The necessary and proper clause is pretty broad, as is Article I, Section 8, Clause 1.
I’m not a lawyer though