Carnegie Mellon University
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Abolish It

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journal contribution
posted on 2009-07-01, 00:00 authored by Allan MeltzerAllan Meltzer

What is the difference between, one, Oliver North funding the Nicaraguan opposition with money that Congress has not appropriated and, two, permitting a secretary of the U.S. Treasury to lend money to foreign governments without prior congressional appropriation? Yes, there are some differences. In the latter case, there is an alleged threat to financial markets requiring a rapid response. In the former case, an agent of the U.S. government supported an insurrection that Congress would not finance, supposedly in defense of national interest


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