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The Golden Rule, “Whoever has the gold makes the rule,” has turned into the Platinum Rule: “He who has the government’s American Excess Platinum Card makes the rules.” Because state politicians lack the power to spend significantly in excess of annual revenues, thanks to state constitutional balanced budget provisions, they turn to Uncle Sugar. The first taste may be free, but then come the demands. This bipartisan political dynamic has pernicious effects on the constitutional balance between states and the federal government. nationalizing much of our policy, right down to local government and so right down to where you live.
But wait, we hear all the time about states in debt, what is this state constitutional limit talk?