The Shrunken Power of the Purse

Abstract:     
The Constitution places control of the federal government's funds in the hands of Congress. This article examines Congress' exercise of discretion in connection with expenditures, impoundments, debt and taxation. It concludes that its actual control over the government's funds has become limited over time and makes recommendations for more robust exercise of its traditional authority.

Keywords: expenditure, impoundment, debt limit, taxation, power of the purse

JEL Classifications: K19, K34, K49

Accepted Paper Series