General Discussion
In reply to the discussion: The validity of the public debt of the U.S.....shall not be questioned (14th Amendment) [View all]buzzroller
(67 posts)I think the analysis should be:
1. Debts include both borrowed money and bills Congress obligated the government to pay such as social security and medicare.
2. There is a separate law authorizing the Treasury to borrow; the debt limit law was added in the early 20th century and has been amended to increase the limit.
3.Congress has passes many specific bills authorizing spending; the debt limit is in conflict with those bills and might be constitutional if it were written so that the executive branch knew which obligations to pay or pay first when the limit were reached. Because the debt limit law does not give clear authority on what not to pay, it is unconstitutionally vague.
There are scholars who are on both sides as has been noted, but I haven't seen this argument made. Professors Dorf and Buchanan comes the closest:
http://www.columbialawreview.org/nullifying-the-debt-ceiling-threat-once-and-for-all-why-the-president-should-embrace-the-least-unconstitutional-option/
4. This is in addition to the 14th amendment and other arguments made.