Now there is an excellent question.
For the last month we have had the back and forth with the looming governmental shutdown. Some have even asked if all this drama is truly necessary?
So to answer the question I went to Vox for their take on the whole enchilada….
The United States has a time bomb written into federal law, and no one knows whether it is constitutional or not.
As anyone who has paid attention to the last dozen years of fighting over the federal budget knows, Congress must periodically raise the nation’s debt ceiling, the amount of money that the US Treasury is allowed to borrow, because the US spends more than it takes in. If the debt ceiling is raised or repealed on schedule, nothing happens. The Treasury will continue to pay for all federal expenses Congress has ordered it to pay, and it will continue to borrow money to pay for these obligations when necessary.
This completely unnecessary threat to the US economy arises from the odd way Congress manages the federal budget. As a general rule, Congress enacts one set of laws that govern taxation and revenue; these laws determine how much money the United States brings in every year. It enacts another set of laws, known as appropriations, that determine how much money the United States will spend every year. If appropriations exceed revenue, then the United States will run a budget deficit and will need to borrow money to cover the gap.
But, rather than automatically authorizing the Treasury to borrow however much money is necessary to cover this deficit, Congress also enacted a third law — the debt ceiling — that prohibits Treasury from borrowing more than a set amount of funds. Once this limit is hit, the country is unable to pay its bills unless Congress raises the debt ceiling. And that will cause the United States to default on at least some of its financial obligations, triggering the same spiral of reduced creditworthiness that faces consumers who refuse to pay their credit card bills.
With all the info then you decide if it is constitutional for yourself.
My thoughts here are…..with some time the US could make this less a problem by enacting two simple things…..1–corporations should be paying their way in this society through taxation….2–rein in the military adventurism world wide.
This will not immediately fix the debt problem but it would be a good road to find that solution all seem to be looking for with all this dramatics from Congress.
Just me thinking out loud.
I Read, I Write, You Know
“lego ergo scribo”
19 thoughts on “Is Debt Ceiling Constitutional?”
That can’t happen here, so I don’t really get it. It’s an ‘American thing’.
Best wishes, Pete.
Many Americans don;t get it either. LOL chuq
Another sure way to prevent the disaster would be to just cave in and let the Republicans have everything they are demanding. Easy as pie! Nothing complicated about that path.
Only for the people that they screw in their win. chuq
With the degrading temperament of America’s Citizens, a Republican screwing is inevitable.
The voter will accept it even without lube….chuq
I know. Sad state of affairs!
And smile while being violated. chuq
A hollow-eyed, frustrated suffering smile.
For me yes it is…..LOL chuq
I once asked an elderly black man, “Why do our African american people always laugh so much and he told me that it is better to laugh than it is to cry.
Good mindset chuq
You are too logical….
It is one of my failings….LOL chuq
A quote that I cannot remember the author….“Americans have mastered the art of living with the unacceptable.” chuq
As so often seems to happen with the Constitution, the wording about the public debt in the 14th amendment is weirdly ambiguous and could be interpreted in various ways. It always makes me chuckle when people treat the Constitution as some kind of infallible sacred text…it has some good ideas in it, but it was very obviously written by humans!
Good point….SCOTUS is suppose to be the interpreter but those days are gone. chuq
Yeah, these days I pretty much assume that they are not interested in interpreting anything in good faith, just in supporting their right-wing buddies. A sad state of affairs.
Yes country means nothing as long as party can keep playing the dangerous game. chuq