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Tilted Cat Head
Administrator
Location: Manhattan, NY
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Quote:
Originally Posted by asaris
1. By the terms of the federal constitution, states can go into debt. I don't see what in that quote says otherwise. However, many/most states have passed balanced budget amendments to their constitutions, so their own state constitutions (unwisely, IMHO) prohibit it.
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Carrying debt does not equal deficit.
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