President Obama has doubled the national debt and added an additional $4.2 trillion to debt through the Quantitative Easing program. Both of these actions are unprecedented. The issue that needs to be discussed is the extent to which Federal debt, at any level, is allowed by the Constitution. As Scotus expands personal rights, rights not clearly delineated in the Constitution such as same-sex marriage, the rights of American citizens to exercise choice in other areas are being severely limited by Federal debt. Debt limits choice since it constrains future spending by Congress on people programs. Since most of the U.S. budget is also committed to funding social programs such as social security and Medicare future expenditures on these, as well as other new programs such as clean energy, are being restricted by the debt and interest payments on the debt. Just as household budgets are squeezed by increasing sales, gasoline, and property taxes, Federal debt limits choices. And...(Read Full Article)