The rapid financing of the AI boom through massive corporate debt issuance is creating significant stress on global financial markets. This influx of private capital forces competition with government Treasury bonds, as AI companies offer higher yields than equivalent sovereign debt, thereby pushing up long-term interest rates. While this signals strong investment demand for AI, it raises concerns about systemic risk and the potential destabilization of core bond markets. Policymakers must navigate the tension between fueling critical technological growth and maintaining stable public borrowing costs to prevent a financial crisis.
The Iran War and the War Powers Resolution
English Summary
Legal experts argue that ongoing U.S. military operations against Iran are likely unauthorized because the administration's interpretation of when 'hostilities' began or ended is legally flawed, suggesting the War Powers Resolution clock never stopped. The analysis finds that continued activities, such as maritime blockades and strikes, constitute an ongoing international armed conflict despite claims of ceasefires. For policy, Congress has several options to constrain executive power without a full legislative overhaul, including using the 'power of the purse' through funding restrictions or utilizing concurrent resolutions to authorize litigation on behalf of the legislature.
中文摘要
法律專家認為，美國持續針對伊朗的軍事行動可能缺乏授權。他們指出，行政部門對於「敵對行為」開始或結束時間的解釋存在法律瑕疵，暗示《戰爭權力決議》（War Powers Resolution）的時間限制從未停止。分析顯示，儘管有停火聲明，但包括海上封鎖和打擊等持續活動，仍構成一場正在進行的國際武裝衝突。在政策層面，國會有多種選項可以在不進行全面立法改革的情況下約束行政權力，包括利用「預算權」（power of the purse）實施資金限制，或透過通過聯合決議（concurrent resolutions）代表立法機關授權訴訟。
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