What is the penalty for ignoring the "debt ceiling" and paying obligations, as opposed to ...

[Faryn Balyncd]

...ignoring contractual obligations and complying with a "debt ceiling" that effectively demands that contractual obligations not be complied with?


Is it within Congress's constitutional powers to effectively demand that legal obligations not be met?

[pnwmom]

1. That is a major constitutional question

that hopefully will not have to be answered. But some experts ARE saying that the Constitution prohibits the U.S. from not meeting its debt obligations.

[annabanana]

2. Good question

(watching)

[flamingdem]

3. If the markets drop a few thouand points that might impact things first nt

[bpj62]

4. 14ht Amendment

Apparently the 14th Amendment states that the government of the United States is required to honor and pay all valid debts. It makes no mention of needing permission from congress nor does it mention any type of ceiling/limit. Keith had a guy on last night who basically said this is what the democrats in the Senate may use as a reason not to sign off on any compromise that the President come up with. Maybe this is why some of the Tea Party Activists wanted to get rid of the 14th Amendment earlier this year.

[Faryn Balyncd]

5. So when a statutory "debt ceiling" conflicts with the 14th amendment, it is unconstitutional?

That the constitutional requirement to honor legal obligations cannot be erased by a mere statutory "debt ceiling"?



That the "constitutional conservative", tea-bagging Republicans in Congress are, in reality, posing, usurping, hypocitical, lying, unconstitutional thugs?