Lend The Shutdown?
The Federal Government seems to last obeying amongst rather remarkable accuracy the constitutional mandate that the authorities may non pass money that has non been appropriated past times Congress.
I would last curious to ask heed from legal experts, however, what stops the authorities from lending money to federal employees, or simply guaranteeing loans.
After all the authorities lends money all over the place, in addition to credit guarantees are fifty-fifty larger. Is the Treasury no longer operating pocket-sized trouble organization loan programs? (Honest question.) Is the Fed no longer lending money to banks, if they desire it? Are Fannie in addition to Freddy refusing to purchase dwelling identify mortgages because the funds to guarantee dwelling identify mortgages (which it does) are non appropriated? No. As far equally I tin tell, Federal lending in addition to loan guarantee programs are upward in addition to running.
If so, what stops the Treasury, from either lending money straight to Federal employees, or guaranteeing someone lending. After all, the Treasury volition write their dorsum paychecks when the fourth dimension comes, in addition to thus these are potentially opportunity costless loans. What stops the Treasury from simply writing on a federal employees' paycheck "this is a loan against your dorsum pay?"
Or... Social safety in addition to Medicare are silent running. Can they write advances against social safety payments that volition last deducted from futurity federal paychecks?
I presume in that location is something stopping this -- that it is a footstep also clever, similar the trillion dollar money solution to the debt limit. But I would last curious to ask heed what the limitation is.
(HT Marginal Revolution on federal employees' other sources of financing, at pretty high involvement rates.)
I would last curious to ask heed from legal experts, however, what stops the authorities from lending money to federal employees, or simply guaranteeing loans.
After all the authorities lends money all over the place, in addition to credit guarantees are fifty-fifty larger. Is the Treasury no longer operating pocket-sized trouble organization loan programs? (Honest question.) Is the Fed no longer lending money to banks, if they desire it? Are Fannie in addition to Freddy refusing to purchase dwelling identify mortgages because the funds to guarantee dwelling identify mortgages (which it does) are non appropriated? No. As far equally I tin tell, Federal lending in addition to loan guarantee programs are upward in addition to running.
If so, what stops the Treasury, from either lending money straight to Federal employees, or guaranteeing someone lending. After all, the Treasury volition write their dorsum paychecks when the fourth dimension comes, in addition to thus these are potentially opportunity costless loans. What stops the Treasury from simply writing on a federal employees' paycheck "this is a loan against your dorsum pay?"
Or... Social safety in addition to Medicare are silent running. Can they write advances against social safety payments that volition last deducted from futurity federal paychecks?
I presume in that location is something stopping this -- that it is a footstep also clever, similar the trillion dollar money solution to the debt limit. But I would last curious to ask heed what the limitation is.
(HT Marginal Revolution on federal employees' other sources of financing, at pretty high involvement rates.)
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