Cain, have you heard about this?

[Freeky]

http://www.huffingtonpost.com/2011/06/28/14th-amendment-debt-ceiling-unconstitutional-democrats_n_886442.html

WASHINGTON -- Growing increasingly pessimistic about the prospects for a deal that would raise the debt ceiling, Democratic senators are revisiting a solution to the crisis that rests on a simple proposition: The debt ceiling itself is unconstitutional.

"The validity of the public debt of the United States, authorized by law... shall not be questioned," reads the 14th Amendment.

"This is an issue that's been raised in some private debate between senators as to whether in fact we can default, or whether that provision of the Constitution can be held up as preventing default," Sen. Chris Coons (D-Del.), an attorney, told The Huffington Post Tuesday. "I don't think, as of a couple weeks ago, when this was first raised, it was seen as a pressing option. But I'll tell you that it's going to get a pretty strong second look as a way of saying, 'Is there some way to save us from ourselves?'"

By declaring the debt ceiling unconstitutional, the White House could continue to meet its financial obligations, leaving Tea Party-backed Republicans in the difficult position of arguing against the plain wording of the Constitution. Bipartisan negotiators are debating the size of the cuts, now in the trillions, that will come along with raising the debt ceiling.

[Telarus]

 

[Cain]

No, that's quite an interesting position to take.  To be honest, I've never heard of another nation having a "debt ceiling" before.

Reading the text of the ammendment, it is obvious they are making clear that the public wont bail out slavers or those who funded the Confederacy war machine (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).

But at the same time, it does clearly say "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."

Looking into it, the debt ceiling was originally concieved to allow the Treasury to apply modern financial management methods to US public debt.  Amusingly, it was part of the New Deal reforms in the administration of government, meaning Republicans have finally found an aspect of the New Deal they're prepared to defend.

I'm not a Constitutional lawyer, but I know an academic who is - I'll pass this onto him and see what he has to say.  But in terms of propaganda, this certainly looks bad for the Teabaggers.

[Precious Moments Zalgo]

I believe the 14th amendment is one of the ones the Tea Party wants to get rid of, along with the 16th and 17th.

[Dysfunctional Cunt]

I believe the 14th amendment is one of the ones the Tea Party wants to get rid of, along with the 16th and 17th.

I was under the impression they wanted to burn the whole thing and start over with just one ammendment...

"Do what we say"

[Doktor Howl]

I believe the 14th amendment is one of the ones the Tea Party wants to get rid of, along with the 16th and 17th.

I was under the impression they wanted to burn the whole thing and start over with just one ammendment...

"Do what we say"

One man, one vote, once.   

[Jenne]

We'll see how far this flies.  I'm not convinced it will fly well past the Mitch McConnells and John Boehners of the GOP.  They're clinging to the "on domestic we can't spend, must only in other countries still defend"...as well as "ceiling is now reached, fuck off!" rhetoric like rhesus monkies.