Posted on 05/23/2023 10:26:36 AM PDT by ChicagoConservative27
Representative James Clyburn (D-SC) said Tuesday on MSNBC’s “José Díaz-Balart Reports” that President Joe Biden can invoke the 14th Amendment to end the debt ceiling stalemate if necessary.
Clyburn said, “I don’t know how long it’s going to take. I think that we all recognize that Janet Yellen made it very clear to us that something needs to be done by June 1st. I think it will get done.”
He continued, “What I am saying is I think we ought to stop playing chicken and recognize the realities. 51-49, Republicans in the House, 51-49, Democrats in the Senate. Whatever we do must pass both houses. I think that that’s the way we ought to be approaching this.”
(Excerpt) Read more at breitbart.com ...
If that’s the case he should have done it 6 months ago so it could be taken to the courts. Waiting to the last minute (even if you think it is legal) is wrong.
I doubt he’s ever read the 14th Amendment.
I did, out of curiosity, yesterday. Nothing in the Amendment remotely is relevant.
Is a Clyburn anything like a Clymer?
Here’s the relevant sections:
Section 4
The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
Section 5
The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article.
I understand how some people are interpreting the 14th, but don’t believe that the interpretation is correct.
The 14th says US debt will not be questioned. It doesn’t say that the executive branch can extend the debt beyond what congress authorizes. It basically says once it is out there then it will always be valid.
IMHO
I doubt he’s ever read the 14th Amendment.
Can he count to 14 without taking off one shoe ?
Section 4 was specifically included to handle the aftermath of the Civil War, to make sure Union troops got paid and Confederate troops did not. I doubt any justice will find it operable in today’s situation.
“Section 5
The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article.”
Heir Biden can just disband the legislature all together.
It’s just a pesky roadblock to true governance. Ya-vol
He overflowed.......................
Uh, no he doesn’t and Jim Clymer is NOT A KING!
“suppressing insurrection or rebellion, shall not be questioned.”
Chomo Joe DID smite the evil Corn Pop so therefore he gets to spend all the money he wants under the 14th amendment...
Section 5: “Congress has the power to enforce...through appropriate legislation.”
I don’t see anything there about the President’s [or, faux-President’s] authority to enforce.
Some quotes that may be of interest to you:
SUBCHAPTER I—BORROWING AUTHORITY
§3101. Public debt limit
(a) In this section, the current redemption value of an obligation issued on a discount basis and redeemable before maturity at the option of its holder is deemed to be the face amount of the obligation.
(b) The face amount of obligations issued under this chapter and the face amount of obligations whose principal and interest are guaranteed by the United States Government (except guaranteed obligations held by the Secretary of the Treasury) may not be more than $14,294,000,000,000, outstanding at one time, subject to changes periodically made in that amount as provided by law through the congressional budget process described in Rule XLIX 1 of the Rules of the House of Representatives or as provided by section 3101A or otherwise....
§3102. Bonds
(a) With the approval of the President, the Secretary of the Treasury may borrow on the credit of the United States Government amounts necessary for expenditures authorized by law and may issue bonds of the Government for the amounts borrowed and may buy, redeem, and make refunds under section 3111 of this title. The Secretary may issue bonds authorized by this section to the public and to Government accounts at any annual interest rate and prescribe conditions under section 3121 of this title.
(b) The Secretary shall offer the bonds authorized under this section first as a popular loan under regulations of the Secretary that allow the people of the United States as nearly as possible an equal opportunity to participate in subscribing to the offered bonds. However, the bonds may be offered in a way other than as a popular loan when the Secretary decides the other way is in the public interest.
(c)(1) When the Secretary decides it is in the public interest in making a bond offering under this section, the Secretary may—
(A) make full allotments on receiving applications for smaller amounts of bonds to subscribers applying before the closing date the Secretary sets for filing applications;
(B) reject or reduce allotments on receiving applications filed after the closing date or for larger amounts;
(C) reject or reduce allotments on receiving applications from incorporated banks and trust companies for their own account and make full allotments or increase allotments to other subscribers; and
(D) prescribe a graduated scale of allotments.
(2) The Secretary shall prescribe regulations applying to all popular loan subscribers similarly situated governing a reduction or increase of an allotment under paragraph (1) of this subsection.
(d) The Secretary may make special arrangements for subscriptions from members of the armed forces. However, bonds issued to those members must be the same as other bonds of the same issue.
(e) The Secretary may dispose of any part of a bond offering not taken and may prescribe the price and way of disposition.
§3103. Notes
(a) With the approval of the President, the Secretary of the Treasury may borrow on the credit of the United States Government amounts necessary for expenditures authorized by law and may issue notes of the Government for the amounts borrowed and may buy, redeem, and make refunds under section 3111 of this title. The Secretary may prescribe conditions under section 3121 of this title. Notwithstanding section 3121(a)(5) of this title, the payment date of each series of notes issued shall be at least one year but not more than 10 years from the date of issue.
(b) The Government may redeem any part of a series of notes before maturity by giving at least 4 months’ notice but not more than one year’s notice.
(c) The holder of a note of one series issued under this section with the same issue date as another series of notes issued under this section may convert, at par value, a note of the holder for a note of the other series.
§3104. Certificates of indebtedness and Treasury bills
(a) The Secretary of the Treasury may borrow on the credit of the United States Government amounts necessary for expenditures authorized by law and may buy, redeem, and make refunds under section 3111 of this title. For amounts borrowed, the Secretary may issue—
(1) certificates of indebtedness of the Government; and
(2) Treasury bills of the Government.
(b) The Secretary may prescribe conditions for issuing certificates of indebtedness and Treasury bills under section 3121 of this title and conditions under which the certificates and bills may be redeemed before maturity. Notwithstanding section 3121(a)(5) of this title, the payment date of certificates of indebtedness and Treasury bills may not be more than one year after the date of issue.
(c) Treasury bills issued under this section may not be accepted before maturity to pay principal or interest on obligations of governments of foreign countries that are held by the United States Government.
§3123. Payment of obligations and interest on the public debt
(a) The faith of the United States Government is pledged to pay, in legal tender, principal and interest on the obligations of the Government issued under this chapter.
(b) The Secretary of the Treasury shall pay interest due or accrued on the public debt. As the Secretary considers expedient, the Secretary may pay in advance interest on the public debt by a period of not more than one year, with or without a rebate of interest on the coupons.
(c)(1) The Secretary may issue a bond, note, or certificate of indebtedness authorized under this chapter whose principal and interest are payable in a foreign currency stated in the bond, note, or certificate. The Secretary may dispose of the bonds, notes, and certificates at a price that is at least par value without complying with section 3102(b)–(d) of this title.
(2) In determining the dollar amount of bonds, notes, and certificates of indebtedness that may be issued under this chapter, the dollar equivalent of the amount of bonds, notes, and certificates payable in a foreign currency is determined by the par of the exchange value on the date of issue of the bonds, notes, or certificates as published by the Secretary under section 5151 of this title.
(3) The Secretary may designate depositaries in foreign countries in which any part of the proceeds of bonds, notes, or certificates of indebtedness payable in the foreign currency may be deposited.
https://uscode.house.gov/view.xhtml?path=/prelim@title31/subtitle3&edition=prelim
NOTE: Yellin could have paid advance interest.
Clyburn is challenging the dimwit Hank Johnson for the title of dumbest Dem in the House.
As long as we’re getting all worked up over the 14th Amendment, how about enforcing Section 1, “equal protection under the laws”?
The 14th Amendment was designed to ensure that treasonous Democrat Confederates didn’t return to the fold and start ignoring any debt the Northern States incurred due to their attacking of the Confederate States. Basically, it ensured Democrats returning from the Confederate states couldn’t ignore past debt, to ruin America’s credit rating and standing in the world.
The 14th Amendment does not give the President any exigent power to take away the Power of the Purse from the House of Representatives. As a matter of fact, it specifically states (in section 5 of the 14th Amendment) that CONGRESS has the power to enforce whatever the 14h Amendment DOES MEAN!
To be 100% accurate, the only thing the 14th Amendment does is make it so that any debt PAST Congresses and Administrations incurred must be accepted as valid debts - nothing else. It does speak of the means to pay for, extend, or otherwise deal with our debt, just that a new Congressional session can’t simply IGNORE debt they do not like - PERIOD!
This whole “use the 14th Amendment” argument is just BS posturing by the idiot Democrats - PERIOD! Unfortunately, they do have the ears and minds of most of the STUPID, IDIOTIC Americans, so many of their followers will believe whatever nonsense they spew!
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