Americans have tethered a huge amount of economic activity to the federal government. Sadly, that nullifies one of our nation’s natural governing advantages: federalism. Politicians make mistakes all the time, and their schemes are often foolish, but we could minimize the damage if we decentralized power to the states and the private sector.

Unfortunately, we have done the opposite. We have centralized power, and so, for example, the debt-fueled budgeting of one legislature on the Potomac threatens a nationwide economic crisis. The dangerous accumulation of trillions in federal debt is being caused not just by bad budgeting rules, but also by an increasing disregard for the Tenth Amendment.

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