The 14th Amendment directs that "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."
In short: "This provision makes clear that both the monies our nation owes to bondholders, and the sums promised in legislation to those receiving pensions set by law from the federal government, must be paid regardless of the political whims of the current congressional majority. All obligations that the nation has undertaken by drawing on its credit must at all times be rendered current."
Thursday, April 28, 2011
The argument that the Debt Limit Vote is Unconstitutional...and not in the way the Teabaggers think!
From Taegan Goddard, but first posited by Garrett Epps:
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