Comments on: Can Obama declare the debt ceiling unconstitutional? http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/ A slice of lime in the soda Sun, 26 Oct 2014 19:05:02 +0000 hourly 1 http://wordpress.org/?v=4.2.5 By: RHB3 http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28260 Thu, 07 Jul 2011 03:00:14 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28260 The 14th Amendment has never been interpreted by the United States Supreme Court to grant autocratic powers in the Executive Branch. Who in their right mind would believe that the President of the United States could use the 14th Amendment to end the separation of powers thereby authorizing the issuance of monetary obligations against the will of the People’s Branch, i.e., Congress. I think it is about time to require that the U.S. Constitution be a course in all U.S. high schools in the hope to prevent these government elitists from deceptively representing the powers of the national govenment to the people.

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By: Kunst http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28255 Wed, 06 Jul 2011 22:34:29 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28255 “On top of that, the substantive business of government would surely come to an end…”

I think that already happened, as soon as Obama became president.

“If Obama wanted to guarantee enormous amounts of political heat and absolutely no meaningful legislation getting passed for the remainder of his first term in office, he could hardly go about it a better way.”

As opposed to what, handing the government over to the Republicans? They don’t want the government to work.

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By: DerekYoung http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28239 Wed, 06 Jul 2011 18:50:08 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28239 A declaration of political war? They’ve been at war with him and the government for a while now. They’re holding the full faith and credit of the United States hostage for their political agenda. Political war doesn’t get worse than that.

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By: EngineerScotty http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28237 Wed, 06 Jul 2011 18:33:44 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28237 Felix,

Switching the budget battles from the debt ceiling to appropriations is not a problem.

1) That’s where these fights are SUPPOSED to occur. If the Tea Party wants to pass a budget that decimates entitlement programs while preserving tax breaks for the wealthy, let them. Let them run on that record. By waging this battle as part of the debt ceiling, they are trying to achieve a policy victory without paying the political price for it, and advance the notion that “we can’t afford these”. We can afford these things if we choose to.

2) If the debt ceiling is not raised (or ignored) and the US defaults on its obligations–what happens? Well, we’ve never been there before, but most experts say “major financial catastrophe”. If, on the other hand, Congress refuses to pass a budget and the government shuts down–well, we’ve been THERE before, and while it isn’t desirable, the Republic has survived.

The problem isn’t that the GOP and the administration are having a budget showdown. The problem is that by doing it in the context of the debt ceiling, one side has brought a loaded gun to the table. If it is done in the context of an appropriations debate, as it ought to be, the playing field is level, and the sort of political brinksmanship that we see today simply isn’t available.

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By: bluestraw http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28222 Wed, 06 Jul 2011 16:14:07 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28222 “Republicans in Congress would certainly take any appeal to the Constitution as a declaration of political war”… that’s the problem. They already have. The President has to make clear that he is willing to assert his Constitutional prerogative as the Republicans assert the need for a balanced budget amendment. These Republicans only respect strength, time to show it.

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By: Etonian http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28212 Wed, 06 Jul 2011 13:40:09 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28212 If Obama is really a statesman, and not merely a politician, he’ll declare that this dept ceiling issue is a “constitutional crisis,” and thus push his agenda thru congress, taxes and all. If Bush was in office, being threatened by the Dems, he, Bush would’ve found a loop hole to get what he wants. Secondly, I also don’t understand why Obama didn’t start a W.P.A. as soon as he became president, just as FDR did?

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By: Greycap http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28210 Wed, 06 Jul 2011 12:15:15 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28210 That’s a bit sleazy of you, Felix: linking to Bartlett on the 14th amendment without mentioning that it was his colleague Stan Collender who brought up the impeachment argument: http://capitalgainsandgames.com/blog/sta n-collender/2289/senate-dems-touting-14t h-amendment-avoid-gop-ransom-demands-deb t-ceiling-co.

In fact, I can’t see that you are contributing anything to this story at all. You would done better just to refer us all to the Capital Gains and Games blog.

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By: KJMClark http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28209 Wed, 06 Jul 2011 12:03:33 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28209 Blah, blah, blah. The Republicans already started the war, and they’re determined to make it a war. Oh my God, they might impeach! So what?

You mean the Republicans *didn’t know* when they came up with the budget that it would increase the debt? They already approved the extra debt.

Look, as long as Obama’s in the Whitehouse, the Republicans are going to use every lever they can to wreck the economy and kick him out next year. They’re not concerned about the national interest or governing effectively.

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By: djiddish98 http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28200 Tue, 05 Jul 2011 23:04:07 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28200 Of course, I guess that would require another congressional change to the operations of the fed/treasury. So never mind.

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By: djiddish98 http://blogs.reuters.com/felix-salmon/2011/07/05/can-obama-declare-the-debt-ceiling-unconstitutional/comment-page-1/#comment-28199 Tue, 05 Jul 2011 23:02:49 +0000 http://blogs.reuters.com/felix-salmon/?p=8865#comment-28199 Or we could not issue bonds, and just control the fed funds rate via tight interest rates on excess reserves and borrowed reserves, roughly 25 bp above and below the Fed’s desired FFR, respectively.

I wonder how the financial community would like that – no more riskless treasuries to earn interest on.

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