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He can't use the 14th. Section 5 gives Congress the power to enforce the 14th.
Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void. Section 5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.
See, if Obama just places his hand over Section 5 as if he never seen it, he can raise the debt ceiling himself!
They are going to promote following the Constitution by doing something unconstitutional? (Defaulting on our debt is a violation of the 14th Amendment).
We won't default on our debt.....
There is enough to pay the interest on our debt....
They are going to promote following the Constitution by doing something unconstitutional? (Defaulting on our debt is a violation of the 14th Amendment).
We have enough money to pay our debt obligations with the monthly revenue of the US. They can also pay the military with them revenue stream. What will happen is the discretionary spending will need to be cut by 40% and the spending addicts don't want to put the needle down yet.
We have enough money to pay our debt obligations with the monthly revenue of the US. They can also pay the military with them revenue stream. What will happen is the discretionary spending will need to be cut by 40% and the spending addicts don't want to put the needle down yet.
Then why the need to raise debt ceiling... 18 times under Reagan and 7 times under Bush?
He can't use the 14th. Section 5 gives Congress the power to enforce the 14th.
Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void. Section 5. The Congress shall have power to enforce, by appropriate legislation, the provisions of this article.
The Supreme Court has left this question open and broad in Perry v. US. If Congress violates their Constitutional obligation to keep our debts valid, the President, as a last resort, can raise the debt ceiling to enforce the Constitution.
Congress can try to impeach him if he does, but the SCOTUS most likely won't get involved. There has to be a balance on Congress regarding the debt, otherwise they have the sole ability to destroy our economy and invalidate our obligations any time they want, which is a violation of the 14th Amendment.
Can't default. We take in too much money to even come close. Just cut off all necessary gov't agencies' budget and you have more than enough money. Default won't happen anyway.
Default could happen if tax-cheat Timmy fails to write checks like he failed to pay his taxes. It shouldn't happen but I don't put Obama and Geithner above making it happen unnecessarily in their effort to destroy the US currency and economy.
At this point the only way Obama can stay in office following November 2012 is to create mahem, declare an emergency, cancel the election, and pronounce himself Dictator like his buddy Chavez. Nothing would surprise me when it comes to this man occupying the Oval Office.
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