How can you say one state was obligated to bail out others? Jefferson and Madision felt it was very unfair for just this reason because Virginia had already paid off half of its debt and now its taxpayers would be forced to bail out other states who had not yet paid off significant portions. Eventually the money came from the people in the states anyway as tariffs only reduce foreign competition, which allows domestic firms to keep prices higher relatively. It could have just as easily been done with the states paying off their own debts.[/font][/font][/color]
It wasn’t federal spending in the modern sense of the word. It was making state debts incurred in the common cause of achieving independence a common obligation of all of the states.
As for the ideas on British mercantilism and Hamilton's tariffs, at the end of the day it was still the market that produced the innovation. Even without the tariffs, those inventions would have been made and eventually spread everywhere so that the industrial revolutions would have taken place. The tariffs may have helped domestic businesses, but it was the consumers who suffered because of it. I would not call that a cause for celebration.
And as for the national debt, Hamilton still took on more, so he still added to it and my point stands. By the way, do you know what the other existing debt was from (just curious as I'm not sure)?
Essentially any of the Jeffersonians- including Thomas Jefferson himself. Of course there were also some who supported Hamilton's ideas as well, but the Constitution clearly supports small government- especially through the forgotten 10th amendment.Prove it. Which specific Founding Fathers (limited to the delegates to the Constitutional Convention, i.e., the ones that had direct say in deciding how big and powerful the federal government could be) wanted small government and low taxes?
Maybe, but he set the precedent. Also, I wonder what the debt:gdp ratio was during his time in office.Something Hamilton would not have supported because the current debt is unmanageable due to its size.
I can go on forever, but here we go with some: war in Iraq, Patriot Act, TARP, the stimulus, the healthcare bill (if it goes through), Cash for Clunkers, any of the other bailouts, many of the powers that have been given to the Fed... need I go on? The Federal government has long forgotten its role (and especially the bill of rights) and right now a lot of what it is doing is unconstitutional.How so? What exactly has the federal government done? Give some examples.