President Barack Obama Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Politics : President Barack Obama

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: manalagi who wrote (95754)	6/30/2011 1:39:16 PM
From: tejek	Read Replies (1) of 149317

Critics of the debt limit cite the Fourteenth Amendment to the Constitution, which 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." (Emphasis ours) Of course, the Fourteenth Amendment is open to wide, and varying, interpretation and debate. The most basic question here is, does a limit on debt "question" the "validity" of the debt? Legal scholar Garrett Epps, writing in The Atlantic in April, said that a case could easily made for simply ignoring the congressionally mandated debt limit. I hate that its coming to this.......that fiscally we are in such a mess; that we are so divided that we can't even agree to protect our financial interests; that American creditors like China are watching closely to see how they can take advantage of our division and confusion. I wonder with growing frequency is this business as usual......has the US had similar difficult times in its past or is this the beginning of the end. Its hard to tell.

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next