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Even stricter: public debt is just a euphemism for theft. The legislative branch was given the authority to collect revenues through taxes, not through theft from the public purse by accounting fraud (aka public debt). All public debt is inherently illegal because it creates a legal burden on someone who did not consent to bear it. No taxpayer gets any say in the debt load, the representatives simply vote to "raise the debt ceiling" and load up more debt. It is crime and wholly illegal and unconstitutional, there is no legitimate authority in the government to take on debt in the name of the public, nor for any "bank" (aka the fake "central" bank) to issue such debt.