Neither the Constitution Nor Common Sense Supports the Argument the Debt Ceiling Is Unconstitutional
As negotiations between Congress and the White House over the debt ceiling proceed, some continue to argue that the President should invoke the 14th Amendment as authority to circumvent the debt ceiling. As I noted before, this is not a new debate, but the claims continue.
In Thursday’s WSJ, University of Virginia law professor Saikrishna Prakash explains why “neither the Constitution nor the law nor common sense” supports the argument that the debt ceiling can be disregarded. Professor Prakash starts with the text:
The 14th Amendment is often cited but rarely quoted. Section 4 both repudiates Confederate debt and promises to honor U.S. debt. The provision at issue provides that the “validity of the public debt of the United States, authorized by law . . . shall not be questioned.” Section 4 doesn’t address default or other failures to honor terms of a debt contract. It bars repudiation. A debtor who is late
Article from Reason.com
