Overlord raising hell .ini limit7/2/2023 ![]() ![]() Section 4 of the 14th Amendment was adopted to ensure that a post-Civil War Congress with a powerful faction of ex-Confederates could not repudiate the bonds and other debts taken out by the Union to put down those who had engaged in “insurrection or rebellion.”īut the clause has not been limited to that era. Whether this theory is constitutional is up for debate. He argues that the debt ceiling law should be deemed unconstitutional because Congress has put the president in an impossible situation: Congress has set taxes at one level and set spending at a higher level, and now threatens to default on the nation’s debt by preventing borrowing to make up the difference. Biden must tell Congress in no uncertain terms - and as soon as possible, before it’s too late to avert a financial crisis - that the United States will pay all its bills as they come due, even if the Treasury Department must borrow more than Congress has said it can,” he wrote in the New York Times.Ĭornell Law professor Michael Dorf goes even further. “As a practical matter, what that means is this: Mr. Harvard Law professor Laurence Tribe said he had changed his view on the issue and now believes the Constitution may require the president to “pick the lesser of two evils” and bypass the debt ceiling. government, tank the domestic economy, boost interest rates worldwide as investors demand guarantees against future defaults.” “That will, in turn, decimate the credit of the U.S. It will force a default on existing debt, the first ever,” he wrote. “Failure to raise the debt ceiling will not reduce the national debt by one penny. He finds that his view, “once dismissed as a fringe theory, has now gone mainstream.” Garrett Epps, a legal historian of the 14th Amendment at the University of Oregon, has been writing about this idea for 12 years. shall not be questioned.”Īccording to this untested theory, the president therefore could be seen as having the constitutional duty to bypass Congress and clear the way for more debt to be issued. Some legal scholars point to a clause in the 14th Amendment that says the “validity of the public debt, authorized by law. But in recent weeks, a once-obscure idea has come to the forefront. ![]()
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