Public Debt in the United States and Germany: A Constitutional Perspective
29 Conn. J. Int'l L. 71 (2013)
42 Pages Posted: 16 Jul 2020
Date Written: September 1, 2013
Abstract
This article compares how German and American constitutional frameworks shape alternative approaches for legislative self-discipline regarding public debt. The comparison identifies structural features of the respective constitutional régimes that work with or against long-term budgetary discipline on the part of a national legislature. The authors conclude that the details details of this globally pressing legislative goal require a legislative perspective that is sensitive to both constitutional and fiscal challenges.
Keywords: public debt, constitutional restrictions on public debt, fiscal and tax consequences of public debt
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