Alexander Dubcek, the reformist communist who led the Prague Spring in 1968, made his first public appearance in over two decades. A new, non-communist government took the countryâs reins on December 5, and on December 29, Vaclav Havel, the famed playwright and dissident, was elected President.
The system of checks and balances was established to make sure that parts of our government did not abuse their powers. Each branch, including the legislative, executive, and judicial, has its own unique set of powers and responsibilities to initiate change and to serve as checks, or limits, on the powers of the other branches.
This is how the U.S. system of debt works: 1  The U.S. Treasury issues or creates the debt. 2  The Bureau of the Fiscal Service manages the Governmentâs debt. 3  That means it keeps records, takes care of selling the debt, and handles paying back people who loaned the Government money.