You thought this last Supreme Court term rocked the political world? The next term threatens to blow up a system of “ghost” funding that the administrative state uses to run operations without voter accountability.
Over the last several decades, government agencies have discovered ways to fund operations without congressional appropriations, further fraying the already weak connection between the ballot box and real power in Washington, D.C. What’s worse, the “ghost” budgets go a long way in explaining the runaway inflation under which we all now suffer.
Article I of the U.S. Constitution states, “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law.” This key clause has come back into focus because of a lawsuit challenging the Consumer Financial Protection Board (CFPB) which funds its operations directly from money printed by the Federal Reserve and not through appropriations.
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