A Government Default is Illegal: This is Why

[Moonglow]

Poor Tea Fartiers

NEW YORK (MainStreet) — A government default is probably illegal.

That's not to say it isn't going to happen. The government does potentially illegal things all the time, that's why we have a Supreme Court. Yet for all our talk of platinum coins and presidential fiat, we in the media have missed the easiest solution of all to the debt limit showdown: the Treasury should ignore it and keep right on borrowing, because that's what the Constitution demands.

This comes from the Fourteenth Amendment. As others have pointed out, Section 4 of the this amendment reads in relevant part that:

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

A growing chorus is urging President Barack Obama to exercise this clause unilaterally and solve the problem of American default. This faction argues that default would tautologically call the validity of government debt into question, since it would raise doubt about if and when America will pay its bills. The Fourteenth Amendment specifically says that can't happen. As such, the President can act on his own authority enforce the Constitution and prevent any default.

A Government Default is Illegal: This is Why - MainStreet

 

[TakeAStepBack]

Yeah yeah. And Ben Bernanke under oath said we're not monetizing debt.

There wont be a default anyway. Get over it, people.

 

[Moonglow]

I don't think there will be

 

[martybegan]

Poor Tea Fartiers

NEW YORK (MainStreet) — A government default is probably illegal.

That's not to say it isn't going to happen. The government does potentially illegal things all the time, that's why we have a Supreme Court. Yet for all our talk of platinum coins and presidential fiat, we in the media have missed the easiest solution of all to the debt limit showdown: the Treasury should ignore it and keep right on borrowing, because that's what the Constitution demands.

This comes from the Fourteenth Amendment. As others have pointed out, Section 4 of the this amendment reads in relevant part that:

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

A growing chorus is urging President Barack Obama to exercise this clause unilaterally and solve the problem of American default. This faction argues that default would tautologically call the validity of government debt into question, since it would raise doubt about if and when America will pay its bills. The Fourteenth Amendment specifically says that can't happen. As such, the President can act on his own authority enforce the Constitution and prevent any default.

A Government Default is Illegal: This is Why - MainStreet

Or it requires the executive branch to pay the debt FIRST, and then use any remaining incoming funds to provide for other programs.

 

[Sarah G]

Poor Tea Fartiers

NEW YORK (MainStreet) — A government default is probably illegal.

That's not to say it isn't going to happen. The government does potentially illegal things all the time, that's why we have a Supreme Court. Yet for all our talk of platinum coins and presidential fiat, we in the media have missed the easiest solution of all to the debt limit showdown: the Treasury should ignore it and keep right on borrowing, because that's what the Constitution demands.

This comes from the Fourteenth Amendment. As others have pointed out, Section 4 of the this amendment reads in relevant part that:

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

A growing chorus is urging President Barack Obama to exercise this clause unilaterally and solve the problem of American default. This faction argues that default would tautologically call the validity of government debt into question, since it would raise doubt about if and when America will pay its bills. The Fourteenth Amendment specifically says that can't happen. As such, the President can act on his own authority enforce the Constitution and prevent any default.

A Government Default is Illegal: This is Why - MainStreet

It should be illegal especially with these idiots in control..

 

[OKTexas]

Poor Tea Fartiers

NEW YORK (MainStreet) — A government default is probably illegal.

That's not to say it isn't going to happen. The government does potentially illegal things all the time, that's why we have a Supreme Court. Yet for all our talk of platinum coins and presidential fiat, we in the media have missed the easiest solution of all to the debt limit showdown: the Treasury should ignore it and keep right on borrowing, because that's what the Constitution demands.

This comes from the Fourteenth Amendment. As others have pointed out, Section 4 of the this amendment reads in relevant part that:

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

A growing chorus is urging President Barack Obama to exercise this clause unilaterally and solve the problem of American default. This faction argues that default would tautologically call the validity of government debt into question, since it would raise doubt about if and when America will pay its bills. The Fourteenth Amendment specifically says that can't happen. As such, the President can act on his own authority enforce the Constitution and prevent any default.

A Government Default is Illegal: This is Why - MainStreet

All that means is the administration must prioritize spending and pay the debt first. There are no magical powers to violate the debt limit. We have more than enough income to service the debt without borrowing a dime.

 

[Moonglow]

It's ridiculous that the Congress can't get the job done. I wish I was there making their kind of dough.

 

[Lonestar_logic]

Poor Tea Fartiers

NEW YORK (MainStreet) — A government default is probably illegal.

That's not to say it isn't going to happen. The government does potentially illegal things all the time, that's why we have a Supreme Court. Yet for all our talk of platinum coins and presidential fiat, we in the media have missed the easiest solution of all to the debt limit showdown: the Treasury should ignore it and keep right on borrowing, because that's what the Constitution demands.

This comes from the Fourteenth Amendment. As others have pointed out, Section 4 of the this amendment reads in relevant part that:

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

A growing chorus is urging President Barack Obama to exercise this clause unilaterally and solve the problem of American default. This faction argues that default would tautologically call the validity of government debt into question, since it would raise doubt about if and when America will pay its bills. The Fourteenth Amendment specifically says that can't happen. As such, the President can act on his own authority enforce the Constitution and prevent any default.

A Government Default is Illegal: This is Why - MainStreet

Hey doofus, you can't pay the debt when you have no money!!!

That's the left's argument to raise the debt ceiling so they can borrow more money so they can pay the debt. I know it doesn't make sense but little of what the left does makes any sense.

 

[Moonglow]

Poor Tea Fartiers

NEW YORK (MainStreet) — A government default is probably illegal.

That's not to say it isn't going to happen. The government does potentially illegal things all the time, that's why we have a Supreme Court. Yet for all our talk of platinum coins and presidential fiat, we in the media have missed the easiest solution of all to the debt limit showdown: the Treasury should ignore it and keep right on borrowing, because that's what the Constitution demands.

This comes from the Fourteenth Amendment. As others have pointed out, Section 4 of the this amendment reads in relevant part that:

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

A growing chorus is urging President Barack Obama to exercise this clause unilaterally and solve the problem of American default. This faction argues that default would tautologically call the validity of government debt into question, since it would raise doubt about if and when America will pay its bills. The Fourteenth Amendment specifically says that can't happen. As such, the President can act on his own authority enforce the Constitution and prevent any default.

A Government Default is Illegal: This is Why - MainStreet

Hey doofus, you can't pay the debt when you have no money!!!

That's the left's argument to raise the debt ceiling so they can borrow more money so they can pay the debt. I know it doesn't make sense but little of what the left does makes any sense.

Time to play spades, so I will get back.

 

[eflatminor]

A Government Default is Illegal

Then it's a good thing we have PLENTY of tax revenue to make debt payments, isn't it?

Next.

 

[Lonestar_logic]

Poor Tea Fartiers



A Government Default is Illegal: This is Why - MainStreet

Hey doofus, you can't pay the debt when you have no money!!!

That's the left's argument to raise the debt ceiling so they can borrow more money so they can pay the debt. I know it doesn't make sense but little of what the left does makes any sense.

Time to play spades, so I will get back.

Your concession is duly noted.