The 14th Amendment, the Debt Ceiling and a Way OutBreaking News
tags: debt ceiling
WASHINGTON — A few days ago, former President Bill Clinton identified a constitutional escape hatch should President Obama and Congress fail to come to terms on a deficit reduction plan before the government hits its borrowing ceiling.
“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,” the critical sentence says, “shall not be questioned.”
The Supreme Court has said in passing that those words have outlived the historical moment that gave rise to them.
“While this provision was undoubtedly inspired by the desire to put beyond question the obligations of the government issued during the Civil War,” Chief Justice Charles Evans Hughes wrote for the court in 1935, “its language indicates a broader connotation.”...
comments powered by Disqus
- The First Time a Plane Was Bombed
- Female World War II Pilots Can Now Have Their Ashes at Arlington National Cemetery
- Obama Signs Bill Removing ‘Negro,’ ‘Oriental’ from Federal Laws
- ISIS Destroys Ancient Adad & Mashki Gates in Nineveh, Iraq
- Geographical names with “Jim Crow” are history in this state
- Timothy Garton Ash Puts Forth a Free-Speech Manifesto
- Iowa historian makes independent bid for US Senate
- British feminist historian declines prestigious Israeli award following BDS pressure
- Robert W. Gutman, Biographer of Wagner and Mozart, Dies at 90
- Greg O’Malley’s go-to slave trade database will soon show more than the path the ships took from Africa to the New World