Will Obama Use the 14th Amendment to Avoid Default

[Flopper]

Obama has repeatedly said he would not use the 14th to raise the debt ceiling. However, if the two sides can not come to an agreement next week, he may reconsider.

"Legal analyst Jeffrey Rosen has argued that Section 4 gives the president unilateral authority to raise or ignore the national debt ceiling, and that if challenged the Supreme Court would would likely rule in favor of expanded executive power or dismiss the case altogether for lack of standing."

Apple Computer now has more cash on hand than the federal government. Maybe Uncle Sam can arrange a quick loan while there's time.

Fourteenth Amendment to the United States Constitution - Wikipedia, the free encyclopedia

 

[Full-Auto]

Obama has repeatedly said he would not use the 14th to raise the debt ceiling. However, if the two sides can not come to an agreement next week, he may reconsider.

"Legal analyst Jeffrey Rosen has argued that Section 4 gives the president unilateral authority to raise or ignore the national debt ceiling, and that if challenged the Supreme Court would would likely rule in favor of expanded executive power or dismiss the case altogether for lack of standing."

Apple Computer now has more cash on hand than the federal government. Maybe Uncle Sam can arrange a quick loan while there's time.

Fourteenth Amendment to the United States Constitution - Wikipedia, the free encyclopedia

The amendment says the debt can not be questioned, it says nothing about being paid late.

 

[Flopper]

The “debt shall not be questioned” clause was added to the Fourteenth Amendment for a specific and immediate purpose: to prevent the new Southern members of Congress, should they gain a majority, from cancelling the debt the Union had incurred in the war. But constitutional interpretation is not a catalogue of historical anecdotes; it is a matter of principle and we are therefore required to identify the principle on which the authors of the clause had to rely. As Chief Justice Hughes said of the clause in 1935, speaking for a unanimous Supreme Court, “While this provision was undoubtedly inspired by the desire to put beyond question the obligations of the government issued during the Civil War, its language indicates a broader connotation. We regard it as confirmatory of a fundamental principle … ”

The general contours of that fundamental principle seem clear enough. Congress does not have authority, even by a substantial majority, to dishonor the nation by repudiating outstanding debts it has authorized the nation to incur. The fiscal integrity of the United States is sacred and requires constitutional protection. Does that principle apply to the debt ceiling crisis?

Can Obama Extend the Debt Ceiling on His Own? by Ronald Dworkin | NYRblog | The New York Review of Books

 

[zzzz]

If the Feds don't pay their debts then what does that do to tax evaders? The Fed saying you got to pay yours but we don't?

 

[Charles_Main]

Obama has repeatedly said he would not use the 14th to raise the debt ceiling. However, if the two sides can not come to an agreement next week, he may reconsider.

"Legal analyst Jeffrey Rosen has argued that Section 4 gives the president unilateral authority to raise or ignore the national debt ceiling, and that if challenged the Supreme Court would would likely rule in favor of expanded executive power or dismiss the case altogether for lack of standing."

Apple Computer now has more cash on hand than the federal government. Maybe Uncle Sam can arrange a quick loan while there's time.

Fourteenth Amendment to the United States Constitution - Wikipedia, the free encyclopedia

So now were claiming that he needs to misinterpret the 14th Amendment, Just to avoid not paying the 30 Billion a month in Interest on the Debt? Or have you guys just decided to change the meaning of the word Default?

lol

 

[Flopper]

If the Feds don't pay their debts then what does that do to tax evaders? The Fed saying you got to pay yours but we don't?

Do as I say,not as I do.

 

[Flopper]

Obama has repeatedly said he would not use the 14th to raise the debt ceiling. However, if the two sides can not come to an agreement next week, he may reconsider.

"Legal analyst Jeffrey Rosen has argued that Section 4 gives the president unilateral authority to raise or ignore the national debt ceiling, and that if challenged the Supreme Court would would likely rule in favor of expanded executive power or dismiss the case altogether for lack of standing."

Apple Computer now has more cash on hand than the federal government. Maybe Uncle Sam can arrange a quick loan while there's time.

Fourteenth Amendment to the United States Constitution - Wikipedia, the free encyclopedia

So now were claiming that he needs to misinterpret the 14th Amendment, Just to avoid not paying the 30 Billion a month in Interest on the Debt? Or have you guys just decided to change the meaning of the word Default?

lol

If the president did this, he would ignore the debt ceiling and continue to issue treasury bonds so the interest and principal can be paid.

 

[Flopper]

Jack Balkin, a law professor at Yale, has laid out how this would work. At some point after Tuesday’s deadline, Obama would face the demands of multiple contradicting laws. On the one hand, the government is required to pay out money that has already been appropriated. On the other, it would not be allowed to float new debt to cover its obligations.

So, Balkin notes, Obama “has a constitutional duty to treat at least one of the laws as unconstitutional as applied to the current circumstances.” And the wording of Section 4 of the 14th Amendment suggests that the debt ceiling would have to give way: “The validity of the public debt of the United States, authorized by law . . . shall not be questioned.”

Debt-limit standoff: Top Democrats revive 14th Amendment option to raise ceiling - The Washington Post