percysunshine
Diamond Member
Again the language in the constitution is vague. Meaning that it's open to interpretation.
I dislike these gimmicky solutions to fundamental problems.
Having said that I dislike not paying back bonds, or destroying everybody's 401k, or demolishing social security, or a global depression, or any of a 100 foreseen or unforseen consequences of a default. That's why avoid risking it on ambiguous law is worth it.
The legislative branch has the power of the purse. I agree with that even when I vehemently disagree with how they sometimes use it. This however is not about the power of the purse.
This is about one Congress REFUSING to take responsibility for what ALL previous Congresses did, in the process hurting the entire world. That is NOT ok. And I dare you to argue against it.
The language in the Constitution is not vague. Article I is pretty clear that only Congress can issue debt.
Everyone knows this, which is why we get this stupid kabuki dance about the 14th amendment.
The reality is if the Treasury tried to issue new debt without Congressional approval NOBODY WOULD BUY IT!