That would be the most blatantly unconstitutional thing Obama has done yet.
Under the Constitution, in Article I, Section 8, only the Congress may borrow money on the credit of the United States. The President does not have the legal power to authorize the issuance of treasury bonds.
The 14th amendment does not change this:
"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."
Since only Congress can legally authorize debt, the issuance of debt by the President without authorization of Congress is an illegal act.
If the government runs out of money to pay the debt, that does not mean the debt is not "valid." The debt continues to represent a valid claim against the government, even if the government does not pay it when due.
If Obama tries this route, they had BETTER impeach him.
I'm almost sure that Obama is going to pull the 14 th amendment out of the hat tonight or at least threaten to do it if he does not get his way.
He has lost this battle every which way he can lose and he doesn't understand how to lose gracefully.
He's a mean, nasty, arrogant, narcissistic Marxist POS The veil and thin veneer is being lifted
He'd do it and then ask the SCOTUS to rule on it's constitutionality which will be water under the bridge after the debt ceiling is lifted by EO.
Congress damn well better bring articles of impeachment against him the day after.
Exactly right!
The only place in the Constitution the power to borrow money on behalf of the United States is mentioned is in Article I Section 8 which lays out the powers of CONGRESS!