top of page

A Call for Constitutional Economics in an Era of Fiscal Excess

A Call for Constitutional Economics in an Era of Fiscal Excess

In the shit storm of fiscal irresponsibility and economic turbulence that currently grips our nation, we find ourselves at a precipice, staring down into the potentially ruinous abyss of hyperinflation and economic collapse. As we peel back the layers of financial mismanagement, a disturbing picture emerges—one where the value of our currency teeters on the brink of devastation due to excessive money printing by the Federal Reserve.

One can't help but recall the sage admonitions of our Founding Fathers who, well aware of the perils of unbacked paper currency, vested in Congress the power “To coin Money, regulate the Value thereof” (U.S. Constitution, Article I, Section 8). This constitutional mandate underscores a historical aversion to fiat currency, which lacks intrinsic value and is subject only to governmental decree.

Historically, hyperinflation has ravaged economies and societies—from Weimar Germany in the early 20th century to more recent examples in Zimbabwe and Venezuela. These precedents serve as stark reminders of what happens when currency printing is unmoored from real economic output. The United States now risks joining this ignominious list, spurred by an unprecedented increase in the national debt and the Fed's monetary expansion. To wit, the past four years have seen an additional $11 trillion added to our national debt, a figure equivalent to the total debt accumulated in the first 220 years of our nation’s history.

In this context, the massive financial support for Ukraine emerges as a particular point of contention. The funding, seemingly conjured from thin air, accelerates the devaluation of the dollar, hastening our approach towards a potentially catastrophic economic reset. This scenario is not merely a financial concern but a profound constitutional crisis, as it fundamentally undermines the economic stability envisioned by our constitutional framework.

Yet, in these trying times, there is a beacon of hope. The potential for a reset, though fraught with peril, also offers an opportunity for renewal—a chance to realign our economic policies with constitutional principles and historical wisdom. It is an opportunity to fortify our economic foundations against the caprices of fiat currency and to reestablish the robust economic practices that can sustain our nation through turbulent times.

As we stand at this crossroads, it is incumbent upon us, the heirs to a great constitutional legacy, to steer our nation back towards fiscal sanity and constitutional fidelity. Let us then advocate for policies that curb governmental overreach, reign in unchecked monetary expansion, and restore the economic stability that our forebears fought so diligently to secure.


bottom of page