Section 4. . The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
"Compare the situation today with the one in 1945. As 12 million GIs came home, seeking jobs in the civilian economy, and as the immense stimulus of World War II ended, economists worried that the U.S. would sink back into the Great Depression. Instead, Washington spent money on initiatives like the GI Bill and the Marshall Plan."
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