14 th Amendment has been in the news lately for the debt negotiations.
The debt
14 th Amendment has been in the news lately for the debt negotiations.
The debt clause in this amendment is not about the current debt, it is only referring to/applicable to the CSA (Confederate States of America) debt after the Civil War. Once the Union (USA) won the war we promised to pay off the debt of the Southern States. That debt was paid for before the end of the 1800s.
Assignment has multiple issues to research/answer:
1. Write two-to-three pages on the current debt (do NOT use the ‘debtclock’ website – it is wrong).
2. Research Andrew Jackson’s paying off of the debt – how did he do this, did the banks like the US not having debt? Could we pay off the debt in similar fashion? Would it be good or bad for economy?
3. Research the issues involved with the 14th Amendment specifically – why is this invoking of this amendment troublesome in terms of the debt negotiations?
4. What is the root cause of the debt ‘problem’? Spending or Revenue? Is it really a problem – or are our politicians and media not being forthcoming (i.e. is there more to the equation? [hint: assets and liabilities make up an accounting journal]), or are our politicians and media themselves ignorant to the accounting process?
*** Since the Debt Ceiling debate is over I would focus your paper on #4 / answer all four issues but focus on last ***
2-3 Pages (If it is 1.7-1.75 pages in length there is an automatic 10% reduction; if you go over the 3.2-3.25 pages there is an automatic 10% reduction)
Chicago Style ( https://www.chicagomanualofstyle.org/tools_citationguide.html) – i.e. NO parathetical citations, use FOOTNOTES. NO MLA, NO APA.
1-inch margins
Verdana 10 Font
Single Space the name and title and double space the paper.
