The same people screaming about Democracy! on a constant basis and call Trump a Fascist also keep wanting Biden to do things on his own without the duly elected Legislative Branch
14th Amendment emerges as last-ditch fix to ward off default
Top political figures are swirling the possibility that President Biden could use the powers of a clause in the 14th Amendment as a last-ditch effort to ward off the looming threat that the U.S. could default on its debt as soon as next month.
When asked about possibility of invoking the amendment, President Biden as recently as Friday appeared to leave such an option on the table when he told MSNBC in an interview he had “not gotten there yet.”
But Treasury Secretary Janet Yellen on Sunday sounded the alarm, calling it a “constitutional crisis” should the president rely on the 14th Amendment, which obscurely addresses the nation’s debt in a way that legal scholars believe allows the president to continue issuing debts without lifting or suspending the ceiling.
“There is no way to protect our financial system in our economy, other than Congress doing its job and raising the debt ceiling and enabling us to pay our bills and we should not get to the point where we need to consider whether the President can go on issuing debt. This would be a constitutional crisis,” Yellen said on ABC’s “This Week.”
So, even Yellen knows that Biden really doesn’t have that power. Obama’s White House likewise stated that they did not have the legal power. The relevant clause states
“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. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.”
The point, as applied to debt, was to do away with Confederate debt, and, notice the part that says “authorized by law.” That means only the Legislative Branch may do something, not the Executive, which is tasked with enforcing laws. Constitutional scholars says it’s really, truly sketchy for the Executive to say that he’s paying the debt by essentially borrowing money unilaterally.
Biden and his administration have spent the past few months insisting they won’t negotiate and want a “clean” debt limit increase but Republicans won’t budget on the stance that an increase has to come with a promise of spending cuts, though the GOP has been short on details on just where they want to see the federal budget be slashed.
Isn’t one of the major points of politics negotiation? To try and come to some consensus? A give and take? How about passing a budget that is responsible, that doesn’t spend The People’s money on stupid stuff, and doesn’t over-spend on others? Try being irresponsible with the money of your company, see where that gets you.
I don’t see the point in this topic. The Republicans will cave on this issue just like they did the last 35 times. Democrats know this so they have no incentive to negotiate. Republicans are just collecting posturing soundbites for their next campaigns. “Look how hard we fought for you, but they were just too tough”. Again. If Republicans were serious, go ahead and pass the debt ceiling increase, but bundle it with a budget that guts the federal government.
A “promise of spending cuts”? Ask Joe Manchin just how much Democrats’ promises are worth.
Manchin, Reagan, both Bush’s, etc.
The Republican/conservative position is to just not pay our bills – but only when a Dem is in the White House.
It’s all Kabuki. Both sides are positioning to blame the other. Since a Dem is in the White House, Repubicuns would love to subject Americans to a serious recession before the 2024 election. Expect 6 million jobs lost and plummeting GDP. Dems will blame GOPhers for cuts in SS, Medicare and Medicaid which Repubicuns oppose anyway.
Conservatives argue that taxpayers are paying way too much in SS, Medicare, Medicaid, military pay, federal employee pay all which need to be significantly reduced. Of course, when they have the WH, House and Senate they prefer the ‘starve the beast’ approach to avoid offending the military, Social Security and Medicare recipients. Tax cuts for the wealthy and corporations without concurrent spending cuts add to the deficit and debt.
Repubicuns could cut spending when they control the WH, Senate and House but have to be careful since SS, Medicare/Medicaid, defense and interest are the big expenses and they don’t want to hurt their own voters. This means Medicaid and other social programs supporting the poor are usually on the chopping block.
A pretty good place to start trimming the fat.
https://www.msn.com/en-us/news/us/doj-federal-agencies-pour-hundreds-of-millions-into-soros-linked-group-accused-of-trying-to-nullify-the-law/ar-AA1aCHPz
#LetsGoBrandon
Bwaha! Lolgf
Could’ve saved some money here but no!
Trump.
https://www.science.org/content/article/nih-restarts-bat-virus-grant-suspended-3-years-ago-trump#.ZFktRGY-R_I.twitter
#LetsGoBrandon
#WeNeedAnotherPandemic
Bwaha! Lolgf
This is all the same thing because if they President race the ceiling accepting the republican terms still has to borrow to paid anyway. So, if he does it without authorization of Congress still we have to borrow but we the people aren’t responsible for those monies because it wasn’t approved by the stamp of Congress. So, let it be the later because we can’t pay anyway the back end debt with more than thirty trillion dollars. I say declare bankruptcy and reset the debt and screw the bankers.