The power of the Congress to assume debt is hereby restricted: the congress shall assume no debt that shall cause the total obligations of the United States to exceed one hundred ten percent of the amount last reported by the Secretary of the Treasury.
The "amount last reported" is assumed to be valid/correct. When we trust the government to be honest, we generally deceive ourselves.
The power of the Congress to assume debt is hereby restricted: the congress shall assume no debt that shall cause the total obligations of the United States to exceed one hundred ten percent of the amount last reported by the Secretary of the Treasury.The "amount last reported" is assumed to be valid/correct. When we trust the government to be honest, we generally deceive ourselves.
I know — one working copy had punishments for misreporting, but I couldn't figure out a way to make it entirely just. (It is, after all, a working draft and subject to revision.)
I'm quite open to suggestions.