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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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∙ 15y ago
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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
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.
What four power does the constitution give to the legislative branch?
Elastic clause money borrow money and tax, the government has money to give to us, borrow money which we are currently doing it china, and elastic Clause which is the statement that grants the congress the power to pass all laws
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.
Does congress have the power to borrow money?
Yes, Congress has the power to borrow money on behalf of the United States government. This authority is outlined in the U.S. Constitution, which grants Congress the ability to borrow money to pay the debts and provide for the common defense and general welfare of the country.
Condgress can borrow money by sellings US savings bonds?
congress can borrow money from the saving bonds
Who decides how much money the government has to borrow?
Nobody decides how much money the government has to borrow. When the government wants to borrow money it has to issue or create debt with the US Treasury.
How does congress borrow money from the people of the US?
through taxes
What article holds the power of the congress?
Article I, Section 8 of the US Constitution establishes the powers held by Congress. These powers include being able to lay and collect taxes, borrow money on credit, and to coin money.
Why did the US borrow money from china?
Because the people in power are stupid.
What is the cost of borrowing for large us corporations?
When corporations borrow money they usually borrow from investors. When they do this, they are selling pieces of their business.
What country does the US mostly borrow money from?
The people within it's country
Congress is prohibited by the Constitution from borrowing money. true or false?
The Constitution of the United States lays the ground rules for much of the federal government. One of those rules is congress can borrow money. The question is false.
