Posted on 05/19/2023 1:15:51 PM PDT by entropy12
Ben Werschkul·Washington Correspondent
The support on Capitol Hill for what was once a fringe legal theory is growing by the hour as the debt ceiling talks head into their final days.
On Thursday, a group of of 11 progressive senators led by Sens. Tina Smith (D-MN), Elizabeth Warren (D-MA) and Bernie Sanders (I-VT) released a new letter to President Biden calling on him to prepare to cancel the debt ceiling by invoking the 14th amendment.
The increased adoption of an idea that could roil markets is a reflection of growing Democratic anxieties that the White House could be preparing for deep compromise as ongoing direct negotiations with representatives of Speaker Kevin McCarthy continue.
(Excerpt) Read more at yahoo.com ...
bingo
bingo
bingo
That about sums it up.
Where does the Constitution say it’s okay to rack up trillions in debt you don’t have?
Someone should ask these fools if they raise the credit limit on their kids’ credit cards every year?
“ I’ve just received word that the president has dissolved Congress permanently”
I waited patiently for Trump to arrest them all for four years, but no dice. /s
You know what, I wish there was a simple statement in the constitution saying congress will not spend more than what is collected in revenues.
Its good to be king.
For a DC democrat; the US Constitution is theirs to exploit and abuse
More evidence of the need to repeal the 17th Amendment!
Go back to what the Founding Fathers intended the Senate to represent - the States! The people are represented by the House. Anyway, State legislatures couldn’t make worse choices in their selections for the Senate the clowns now there!
“Fear will keep the rural areas in line.”
Typical dems focusing on one small sentence of the entire amendment and making it mean something that it really doesn’t. Good grief ... have they even read the entire amendment?
It’s ceiling-fluid.
Not just one part ... one sentence of one part.
It is more a suggestion.
My importance: SSA
Some, such as legal scholar Garrett Epps, fiscal expert Bruce Bartlett and Treasury Secretary Timothy Geithner, have argued that a debt ceiling may be unconstitutional and therefore void as long as it interferes with the duty of the government to pay interest on outstanding bonds and to make payments owed to pensioners (that is, Social Security and Railroad Retirement Act recipients).[217][218]
“The 14th Amendment means that we must honor the debt, not raise more debt.”
Yup.
We could eliminate half of all staff who get a Fed paycheck. End the existence of half the alphabet agencies and put their assets up for auction. Drill for oil, sell it and buy gold. End all subsidies. Give all able-bodied takers 90 days to find work. Stop foreign aid. Outfit a 737 platform for AF 1. Sell Fed lands to the states.
Most states have a constitutional requirement to balance the budget.
We would do well to do that on the Fed level.
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