| onwebcam |
07-27-2011 04:08 PM |
Democrats plan unveiled: Unlimited credit line
House Democratic Leaders To Obama: Use The 14th Amendment [UPDATED]
"We have to have a fail-safe mechanism," Larson said. "We believe that fail-safe mechanism is the 14th Amendment and the president of the United States."
Section 4 of the 14th Amendment states: ?The validity of the public debt of the United States, authorized by law, including debts incurred for payments of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.? Essentially, Democrats are arguing that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.
Democratic Senators have been eying this option since late June. Sen. Chris Coons (D-Del.), an attorney, predicted at that time the the constitutional option may get "a pretty strong second look as a way of saying, 'Is there some way to save us from ourselves?'"
http://www.huffingtonpost.com/2011/0..._n_910878.html |
