Covenants and Governance with the Consent of the Governed

I read this verse (2 Kings 11:17) this morning before church:

Jehoiada then made a covenant between the LORD and the king and people that they would be the LORD's people. He also made a covenant between the king and the people.

(NIV)

On first reading, it seemed to me like a very early form of the constitutional system of governance with the consent of the governed.  The Constitution of the US is a covenant between "We the People" and the US Government.  After church, I realize that the covenant between the government and the people only makes sense in the context of the first covenant, which involves God, the government, and the people.  "One nation, under God", indeed.  As our society abrogates the first covenant, so shall the second be abrogated.