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Most users ever online was 51 on Thu Feb 17, 2011 2:04 pm

Is US default on our debt Unconstitutional?

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Is US default on our debt Unconstitutional?

Post by Guest on Wed Jun 29, 2011 11:43 am

"The validity of the public debt of the United States, authorized by law... shall not be questioned," reads the 14th Amendment

I'm feeling more energized about the way Democrats are mobilizing to fight Republicans and their attacks on the poor. Republicans have been threatening to use the need to pass a budget and raise the debt ceiling as a way to force Democrats to cave to their ourageous budget cuts to Medicare and Social Security.

This article deals with the fact that it may be against the constitution to not raise the debt ceiling and to allow us to default. Way to go -fight Tea Party extremists with their own weapons and take away the axe they are holding over our heads.

http://www.huffingtonpost.com/2011/06/28/14th-amendment-debt-ceiling-unconstitutional-democrats_n_886442.html

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Re: Is US default on our debt Unconstitutional?

Post by Phillymg on Wed Jun 29, 2011 6:25 pm

Interestingly.....it was former Republican adviser Bruce Bartlett who 1st floated the idea on 4/29/11 that the White House doesn't need Congress to pass a law increasing the debt limit.....the federal govt can just keep paying the bills as usual.....because the Constitution clearly states that Congress can't do anything (or fail to do anything) that would invalidate our debts.

http://www.thefiscaltimes.com/Columns/2011/04/29/The-Debt-Limit-Option-President-Obama-Can-Use.aspx

This is the best idea that anyone's had in Washington in a long time. Totally pulls the rug out from under the Repubs scheme to attach spending cuts to a bill increasing the debt limit since such a bill is completely unnecessary. They'll have to wait till the 2012 Budget negotiations to try to destroy medicare & social security.

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Re: Is US default on our debt Unconstitutional?

Post by Guest on Wed Jun 29, 2011 10:46 pm

I know. How genius is that? We use their own arguments and the Constitution to raise the debt ceiling and let them go bluster themselves into a corner somewhere else.

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Re: Is US default on our debt Unconstitutional?

Post by truth on Thu Jun 30, 2011 2:07 am

The fact that the Republicans are even contemplating something as unprecedented and potentially explosive as letting the US default strikes me as shades of Dr. Strangelove.

The entire world financial system may be placed at risk once again, and who can possibly know for certain what the ramifications will be? I hope the Constitution, if nothing else, can preserve us from such recklessness, if not outright madness.

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