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Fiendish Thingy

(24,394 posts)

4. But wouldn't a default effectively render US bonds "invalid"?

Reply to onenote (Reply #2)

Mon May 8, 2023, 03:56 PM

May 2023

Bonds are a form of debt, and an intentional default would trigger a downgrading of US credit rating, rendering existing and future US bonds invalid.

Regardless, If SCOTUS were to rule against Biden using the 14th to continue paying debts, he should ignore the ruling and instruct Yellen to keep paying debts. SCOTUS has no enforcement mechanism outside of the Executive branch, and so this would be an historic neutering of a rogue court.

Biden should then welcome the impeachment hearings that would follow.

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14th Amendment emerges as last-ditch fix to ward off default [View all] Yo_Mama_Been_Loggin May 2023 OP

It's a constitutional crisis worth triggering IMO Fiendish Thingy May 2023 #1

If the Court had to vote on the merits, they'd probably rule 9-0 against the use of the 14th. onenote May 2023 #2

But wouldn't a default effectively render US bonds "invalid"? Fiendish Thingy May 2023 #4

I could read it a bit differently. Igel May 2023 #10

So bonds must be paid, and a budget bill is a law authorizing expenditures Fiendish Thingy May 2023 #11

Not as a legal concept. Again, think about common types of debt onenote May 2023 #12

You're making the word "valid" do a lot of heavy lifting here. Fiendish Thingy May 2023 #13

Really? What do you think the plain meaning of validity is? onenote May 2023 #14

Defaulting would cause the markets to consider US bonds invalid, worthless Fiendish Thingy May 2023 #15

What happens when you default on your credit card? onenote May 2023 #17

If you don't pay your credit card, it gets cancelled Fiendish Thingy May 2023 #19

Another point to consider Fiendish Thingy May 2023 #21

Not a lawyer, but unsure you're right Deminpenn May 2023 #6

How can they rule against what's in the Constitution? brush May 2023 #9

Agreed! DemocraticPatriot May 2023 #25

The question is this...would SCOTUS say we've set a precedent Buckeyeblue May 2023 #3

Well, it was supposed to be the Courts who "set precedents", not congress--- DemocraticPatriot May 2023 #26

Since 1960 Emile May 2023 #5

Mint the coin and slap McCarthy's face on it Arazi May 2023 #7

Mint a bunch of high value coins IbogaProject May 2023 #8

The President has more troops than the Supreme Court..... DemocraticPatriot May 2023 #16

That would be a dangerous precedent Silent3 May 2023 #18

It is indeed dangerous, but a necessary constitutional crisis that should be triggered Fiendish Thingy May 2023 #20

Some very-red states, and red counties in blue states, are already taking the opinion that DemocraticPatriot May 2023 #24

Inapt analogy onenote May 2023 #22

I applied that quote to the wrong case. I was not Dred Scot, it was Lincoln's suspension DemocraticPatriot May 2023 #23