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To do that, gov’t needs $$$

To stimulate economic growth, gov’t needs to help create a sound economic infrastructure (build roads, ports, run Post Office, etc) . To do that, gov’t needs $$$. One way to get $$$ is to borrow it from banks, and other countries.

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To do that, gov’t needs $$$

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  1. To stimulate economic growth, gov’t needs to help create a sound economic infrastructure (build roads, ports, run Post Office, etc) To do that, gov’t needs $$$

  2. One way to get $$$ is to borrow it from banks, and other countries In order to get a loan, you must have established credit (show you can pay back what you borrow) To establish credit, you must acquire a debt that you pay off

  3. Federal Gov’t takes on debt of individual states To pay off debt… Taxes Establish a bank private individuals can invest in

  4. ≈ $900,000,000

  5. Enumerated Powers • To provide for the Punishment of counterfeiting the Securities and current Coin of the United States;  • To establish Post Offices and post Roads;  • To define and punish Piracies and Felonies committed on the high Seas,  • To provide and maintain a Navy; 

  6. Implied Powers • The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defense and general Welfare of the United States… • To make all Laws which shall be necessary and proper for carrying into Execution the foregoing Powers… Implies the gov’t has the power to create a national bank because it is “necessary” for collecting taxes, paying debts, etc

  7. 4:1 Quiz on quia • Submit 4:1 reading notes to turnitin • 4:1 Review Questions (#2-5)

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