National Debt Glossary: Understanding Government's Power of the Purse

Power of the purse

A reference to the constitutional power Congress has over legislation to raise revenue and appropriate funds from the Treasury. The Constitution states that Congress “shall have Power To lay and collect Taxes, Duties, Imposts and Excises, [and] to pay the Debts. . .” and that “No Money shall be drawn from the Treasury, but in Consequence of Appropriations made by Law. . . .” The Constitution does not state how these legislative powers are to be exercised, nor does it expressly provide for the President to have a role in the management of the nation’s finances. SOURCES: ;

National Debt Glossary

Looks up the key terms for understanding America's financial crisis

Frequently Asked Questions National Debt

Cancel You are leaving AARP.org and going to the website of our trusted provider. The provider’s terms, conditions and policies apply. Please return to AARP.org to learn more about other benefits. Your email address is now confirmed. You'll start receiving the latest news, benefits, events, and programs related to AARP's mission to empower people to choose how they live as they age. You can also by updating your account at anytime. You will be asked to register or log in. Cancel Offer Details Disclosures

Close In the next 24 hours, you will receive an email to confirm your subscription to receive emails related to AARP volunteering. Once you confirm that subscription, you will regularly receive communications related to AARP volunteering. In the meantime, please feel free to search for ways to make a difference in your community at Javascript must be enabled to use this site. Please enable Javascript in your browser and try again.