Skip to main content

View Diary: President Obama holds press conference on shutdown, debt limit #2 (292 comments)

Comment Preferences

  •  I say... (2+ / 0-)
    Recommended by:
    highacidity, Lovepolitics2008

    ...putting them on the table is unacceptable.  I'm a Constitutional historian...big deal.  But read the text:

    “The validity of the public debt of the United States, authorized by law, including debts incurred for payments of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”

    That is not clearcut. Many scholars believe it only applies "to the rebellion."  If it were clear cut and said: "The President has the authority to pay all public debt" fine.  But it doesn't.  

    And the notion you could get it past this SCOTUS is, well, faulty.  

    No one can terrorize a whole nation, unless we are all his accomplices. - Edward R. Murrow

    by CrazyHorse on Tue Oct 08, 2013 at 12:30:16 PM PDT

    [ Parent ]

    •  The words "Shall Not Be Questioned" (1+ / 0-)
      Recommended by:
      Reston history guy

      are clear. The word "including" provides additional clarity about "debts".

      Scholars who question that need a refresher course in their native language.

      This all started with "what the Republicans did to language".

      by lunachickie on Tue Oct 08, 2013 at 12:42:02 PM PDT

      [ Parent ]

      •  Does not justify taking on new debt (0+ / 0-)

        I am no expert on that clause, but I take it to mean that existing debts (bonds already issued) have to be paid.

        But the issue on raising the debt ceiling isn't whether we honor the existing debt; it's the ability to refinance debt as bonds mature and to borrow additional money.

        IMO nothing in the Constitution necessarily authorizes the President to incur new or refinanced debt. Statutes may -- as he says, Congress approving a budget means approval to spend that money -- but I'm not as sure as some people that it would have Constitutional warrant. And given the threat of impeachment that some would pounce on in a heartbeat, that gives me pause.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site