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Old 06-25-2012, 02:49 PM
 
45,585 posts, read 27,209,359 times
Reputation: 23898

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Nancy Pelosi Says Obama Should Use Constitution To Avert Debt Crisis

House Minority Leader Nancy Pelosi (D-Calif.) said Wednesday that President Barack Obama should use the 14th Amendment to declare the debt ceiling unconstitutional in the event that Congress hurtles toward another debt showdown.

"I'm a big fan of the Constitution," Pelosi said during a discussion on raising the debt ceiling in a sit-down with reporters. "The credit validity of the United States shall not be in question."

...
The provision at the heart of the constitutional debate, 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.” Democrats essentially argued that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.

I hope they do this - please...

Functionally, we don't have a debt ceiling, but for them to make this declaration would just distance them further away from common sense.
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Old 06-25-2012, 02:54 PM
 
Location: Great State of Texas
86,052 posts, read 84,519,997 times
Reputation: 27720
Sure why not..just do it with a memo or suggestion like the amnesty that got granted last week.

I thought that ceiling got raised high enough that it wasn't going to be an issue until after elections ?

Also, why hold Congress to a budget when literally the sky's the limit because they can vote themselves a bigger credit line ?

FWIW we need a balanced budget amendment with an exception for war, national emergencies.
That will force Congress to spend within their means and start getting rid of waste and fraud.
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Old 06-25-2012, 02:58 PM
 
29,407 posts, read 22,017,439 times
Reputation: 5455
They haven't put together a budget so hell why not. Just spend away.

I've been waiting for some hints of this from these idiot democrats. The last debt ceiling debacle pushed it past the election but I read a thing a couple weeks ago that the way they are spending this thing could hit around October. The October surprise they don't want so will now start crying and whining about how republicans want to shut down the government and force old people to starve and on and on. The usual crappola.
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Old 06-25-2012, 02:59 PM
 
29,407 posts, read 22,017,439 times
Reputation: 5455
"The credit validity of the United States shall not be in question."

LOL. If Obama had listened to the credit agencies it wouldn't be in question. Now it is thanks to these fools.
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Old 06-25-2012, 03:00 PM
 
Location: Johnson City, Tn
973 posts, read 1,453,636 times
Reputation: 788
I can't be out of money! I still have checks left in my checkbook and more in my desk drawer!
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Old 06-25-2012, 03:06 PM
 
69,368 posts, read 64,135,461 times
Reputation: 9383
Quote:
Originally Posted by DRob4JC View Post
The provision at the heart of the constitutional debate, 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.” Democrats essentially argued that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.
Does someone need tot ell Pelosi there is a difference between existing debt, and debt not yet created? Scary!!!
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Old 06-25-2012, 03:08 PM
 
Location: Out in the Badlands
10,420 posts, read 10,834,015 times
Reputation: 7801
Quote:
Originally Posted by DRob4JC View Post
Nancy Pelosi Says Obama Should Use Constitution To Avert Debt Crisis

House Minority Leader Nancy Pelosi (D-Calif.) said Wednesday that President Barack Obama should use the 14th Amendment to declare the debt ceiling unconstitutional in the event that Congress hurtles toward another debt showdown.

"I'm a big fan of the Constitution," Pelosi said during a discussion on raising the debt ceiling in a sit-down with reporters. "The credit validity of the United States shall not be in question."

...
The provision at the heart of the constitutional debate, 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.” Democrats essentially argued that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.

I hope they do this - please...

Functionally, we don't have a debt ceiling, but for them to make this declaration would just distance them further away from common sense.
Greece II here we come...financial ignoramuses.
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Old 06-25-2012, 03:13 PM
 
79,907 posts, read 44,231,797 times
Reputation: 17209
I'm thinking that after the mess Pelosi made of Obamacare that he doesn't pay much attention to anything he says.

"We have to spend the money before we can tell you how much we have spent".
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