Seems like the founding fathers had an understanding that poorly managed businesses might run out of cash.
My thought is if Bush had ever actually read “the piece of paper” he might have known we have Laws in place to handle this.
You’re right, Article I Section 8 of the United States Constitution provides that Congress shall have the power “to establish an uniform Rule of Naturalization, and uniform Laws on the subject of Bankruptcies throughout the United States.”
I assume that your question is whether the recent “bail-out” bill was constitutional. The most recent bail out bill was passed into law by the current Democratically controlled Legislature and signed into law by our Republican President. One of Congress’ powers under the the same article and section of the Constitution is to tax us and “provide for the general welfare” of the United States.
So, the Constitution does provide for the Congress to appropriate money for the welfare of the Union.
