What is the debt limit and why does it matter? The debt limit is the total amount of money that the US government is authorized to borrow from the treasury to meet its existing legal obligations, such as military salaries, interests on the national debt, tax refunds, and Social Security and Medicare benefits. As ofContinue reading “US hits the debt ceiling: What it is and what will happen if it isn’t raised”
Tag Archives: Politics
Factions According to James Madison
In the Federalist 10, James Madison attempts to answer the question: how will the new Constitution protect the liberty of citizens against the tyranny of the majority? The framers of the Constitution were emphatically against a pure democracy, because in this case, in a pure democracy, the majority will always win out against the minority,Continue reading “Factions According to James Madison”
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