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Yes. The Constitution of the United States says, in Article 1, Section 8, the second of the "enumerated powers" of the Congress:
Section. 8. The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; but all Duties, Imposts and Excises shall be uniform throughout the United States; To borrow Money on the credit of the United States;
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According to article 1 section 1 Clause 2 of the US Constitution the US can do which of these?
The United States can borrow money according to Article One, Section One, Clause Two of the U.S. Constitution.
Who has the power to borrow money on behalf of the US?
the executive branch The legislative Branch can borow money on the credit of the u.s.
When you buy a US government savings bond youre doing so?
borrow money
Why do you borrow money?
There could be thousands of reasons people borrow money. To buy a car, a home, to take a vacation, there are too many reasons why people borrow money to list here. Hopefully you got the jest of this answer. There a numerous reasons for the borrowing of money but common ones are; home loans, purchasing of cars, insurance, purchssing of business companies etc. People borrow money in generall because they either cant afford something or they have no money in cash, so they borrow from the bank, the disadvantage however is that you have to pay it back, and what people don't realise is that the bank adds interest to the overall payment if you pay it over a period of time which is not in the month requested by the bank.
Who has the power to collect taxes and borrow money?
it is the department of treasury
