Why the US Can’t Default on Its Debt

“All Obama would have to do is hold a press conference and say “per our Constitution in Amendment 14, Section 4 we can not default on our debt – as such I am authorizing the Treasury to continue issuing bonds under the Necessary and Proper Clause to ensure a functional government.” Then as he leaves the room, give the middle finger to Republicans. If Republicans in the US House refuse to raise the Debut limit,the Executive branch should simply announce it’s going to continue to pay the bills and dare Republicans in the Legislative branch to take them to court. In a situation where the entire weight of world bond markets was bearing down on Anthony Kennedy’s head, would he really vote to crash the economy and destroy the credit rating of the United States? I can’t see a Republican Supreme Court going toe to toe with the entire massed forces of Wall Street and not blinking.”

LettersFromTheSky comments on John Boehner plans on holding debt ceiling hostage once again this year.