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In reply to the discussion: The validity of the public debt of the U.S.....shall not be questioned (14th Amendment) [View all]authorized spending, without the corresponding revenue, is debt.
As a matter of fact, that's preciously the reason for Article 4 of the 14th Amendment. The Civil War plunged this country into debt, and this section mandated that all future Congresses honor that debt and any other debts incurred. It bolstered the financial integrity of the war-torn nation in the eyes of the world, and also reassured all of the U.S. citizens who invested in the Union by buying bonds. It also outlawed any claims of the prior confederacy against the Union.
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