My biggest question is how do you get anyone to buy the debt? All it would take is for one Congressman to file a suit against the Treasury and 0bama and no buyer would ever dare put their money at risk.
“how do you get anyone to buy the debt? “
That was my thought too.
The market wouldn’t buy it because it wasn’t ‘authorized by law’ and wasn’t ‘backed by the full faith and credit of the United States’.
But the Federal Reserve could!
Then that “debt” would be an electoral issue and the Dems’ platform would be “Raise taxes, save the Fed!”. The media would trumpet what a disaster it would be for minorities and seniors and women not to save the Fed and the Dems would win the congress and authorize the debt.