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View Diary: I can't believe no one thought of this - The EASIEST Debt Ceiling Solution (34 comments)

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  •  Only thing about this is that (1+ / 0-)
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    kyril

    The debt ceiling does not compel the Administration to not pay existing debts since the Federal government's income is greater than the interest on it.

    It's therefore hard to make the case that the debt ceiling law requires violation of the Fourteenth.

    It is, however, certainly in conflict with other laws that require certain spending levels by the Administration.

    On the other hand, if debt were issued in excess of the ceiling, a court could not order it to be abrogated without violating the Fourteenth; nor could it order it to be paid since the government would by definition not have the money to do so.  But the markets could get jittery about this since not all courts in this land are known for their sanity.

    Fake candidates nominated by the GOP for the recalls: 6 out of 7. Fake signatures on the recall petitions: 4 out of 1,860,283.

    by GeoffT on Thu Jan 10, 2013 at 04:34:24 PM PST

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