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Stock Photo of the Consitution of the United States and Feather Quill (Photo credit: Rosie O’Beirne)
Okay, several times today, I’ve heard multiple people in person, on radio and on TV, say that the President can legally just ignore the debt limit imposed by Congress because of the 14th Amendment. I didn’t remember reading anything like that, so I decided to check it again, myself. Here are the words of Section 4 and Section 5 of the 14th Amendment to the U.S. Constitution:
Section 4.
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.
Section 5.
The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article.
Okay the second line of Section 4 was about the debt incurred by the South during the Civil War. That doesn’t say anything like the President can ignore Section 5 and the power of Congress to enforce article 14. The first line of Section 4 just says that the validity of our debt shall not be questioned. That doesn’t say anything about it either. I know some people like to read between the lines, but come on. Putting aside that fact, that reaching a debt ceiling doesn’t do anything to invalidate the debt, and contrary to what President Obama has stated recently, it doesn’t do anything to keep the government from servicing the debt.
The government can continue to service the debt regardless of the debt ceiling, at least until we reach the point where servicing our debt takes all of the government revenues. Yes, I will admit that it seems that this President and Democrat controlled Senate are bound and determined to do exactly that someday. Since they refuse to decrease the rate of growth by even small amounts like in the sequestor, let alone actually cut, the federal debt. However, that day hasn’t come, yet. If the Tea Party is successful and it isn’t already too late, that day may never come.
Despite the wreckless and unprecedented increase in the money supply, the Fed has managed, so far, to artificially hold down inflation. I fear that some stuff just hasn’t hit the fan yet, but it is coming someday. At which point, the cost of servicing our debt could quickly grow perhaps to the point of no return. Until, then, to those who think the 14th Amendment gives the President some magical power to consult with the Supreme Court and to ignore Congress. I’d appreciate if they show me which section and which line they are referring to. Because either my copy of the Constitution is missing some important lines or they are are reading something that just isn’t there and never was.