Why the 14th Amendment matters in the debt-ceiling crisisBreaking News
tags: debt ceiling
As we enter the final countdown in our third debt-ceiling crisis in two-and-a-half years, most of us have heard at least some discussion of Section 4 of the 14th Amendment, which dictates that the "validity of the public debt of the United States ... shall not be questioned."
Unfortunately -- and misleadingly -- these mentions have often occurred in the same breath as the notion of minting two $1 trillion platinum coins as a way of magically and comically circumventing the impasse. This has led many to assume that the 14th Amendment's relevance to the crisis is as hypothetical and far-fetched as the wacky coin proposal, amounting to no more than some sort of "silver-bullet" pipe-dream or a liberal academic's Hail Mary pass.
That is wrong. It is true that the majority view, both in legal academia and among President Obama's legal advisors, seems to be that the 14th Amendment provides no easy out for the President as he faces this crisis. It does not, in their estimation, authorize him simply to declare the debt-ceiling a nullity and order the Treasury Department to issue new debt without prior authorization from Congress....
comments powered by Disqus
- Berlin's street names provoke debate over forgotten colonial history
- 'World's first newspaper published in Korea in 1557'
- Trump’s claim that ‘no administration has accomplished more in the first 90 days’
- Trump parroted Chinese version of history
- Museum of the American Revolution opens: 'It's high time we had a museum such as this'
- David McCullough: President Trump's Disregard for History Is 'Utter Nonsense'
- Professor uses role-playing, video game to teach history
- American Historical Review apology prompts soul-searching over racial gatekeeping in the academe
- Professor who tweeted Trump 'must hang' goes on leave for semester
- Jonathan Zimmerman is joining the growing ranks of liberal historians alarmed by college speech codes