Section 4.
“What does the 14 Amendment have to do with Obama?”
Section 4 of the 14th Amendment:
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.
Key words there are “authorized by law” The President is not a lawmaker, Congress is!!!!!!!!
Therefore, he cannot act unilaterally...
"Section 5. The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article.
The President has no authority without congress enabling him to do so.
The Congress shall have Power To lay and collect Taxes, Duties, Imposts and Excises, to pay the Debts and provide for the common Defence and general Welfare of the United States; . . . To borrow Money on the credit of the United States.Those roles are pretty clearly within the sole authority of the Congress. A debt limit abrogation by the President would be to borrow additional money on the credit of the United States, authority to do which Article II does not grant Him and which the Fourteenth Amendment does not grant Him either.
"Section 5. The Congress shall have the power to enforce, by appropriate legislation, the provisions of this article.
The President has no authority without congress enabling him to do so.
All it would take is one congressman to make a public statement that Congress "could not guarantee" the payment of any T-bills issued beyond the debt ceiling, and government credit stops DEAD.