Exploiting Public Ignorance

A president has no power to raise or lower taxes. He can propose tax measures or veto them but since Congress can ignore presidential proposals and override a presidential veto, it has the ultimate taxing power. The same principle applies to spending. A president cannot spend a dime that Congress does not first appropriate. As such, presidents cannot be held responsible for budget deficits or surpluses. That means that credit for a budget surplus or blame for budget deficits rests on the congressional majority at the time.

Thinking about today's massive deficits, we might ask: Where in the U.S. Constitution is Congress given the authority to do anything about the economy?

Walter Williams' reference to the U.S. Constitution is a reminder that that quaint old document still exists, even though it is largely ignored by Congress and the courts. Congress gets its marching orders from Obama and constructs policy to suit him. If the Constitutionality of any acts or provisions is challenged, they have plenty of practice at misconstruing the meanings of the original document.