14th Amendment and Debt Ceiling

Can USA President use the 14th Amendment for lifting the debt ceiling?

The 14th Amendment to the United States Constitution was ratified in 1868. It granted citizenship to all persons born or naturalized in the United States, including former slaves, and guaranteed them equal protection under the law.

The 14th Amendment has also been interpreted to include a clause that prohibits the federal government from “assuming or paying any debt or obligation incurred in aid of insurrection or rebellion against the United States.” This clause, known as the “public debt clause,” has been cited by some legal scholars as a possible way for the federal government to continue borrowing money even if Congress fails to raise the debt ceiling.

The debt ceiling is a legal limit on the amount of money that the federal government can borrow. It was established in 1917, and it has been raised numerous times since then. However, in recent years, the debt ceiling has become a political football, with Republicans and Democrats often using it as a bargaining chip in budget negotiations.

Legal Arguments

In 2023, the United States is expected to reach its debt ceiling in early June. If Congress does not raise the debt ceiling, the federal government will be unable to borrow any more money. This could lead to a default on the national debt, which would have a devastating impact on the economy.

Some legal scholars have argued that the 14th Amendment’s public debt clause allows the federal government to continue borrowing money even if Congress fails to raise the debt ceiling. They argue that the clause prohibits the federal government from repudiating its debts, even if those debts were incurred during a time of insurrection or rebellion.

Other legal scholars have argued that the 14th Amendment’s public debt clause does not apply to the debt ceiling. They argue that the clause was intended to prevent the federal government from paying debts that were incurred in support of the Confederacy during the Civil War.

The Supreme Court has never ruled on the question of whether the 14th Amendment’s public debt clause applies to the debt ceiling. If the Court were to rule that the clause does apply, it would allow the federal government to continue borrowing money even if Congress fails to raise the debt ceiling. This would prevent a default on the national debt and averted a potential economic catastrophe.

Debt ceiling hike: impact on common man

The debt ceiling is a term that refers to the maximum amount of debt that the United States government is allowed to have. When this ceiling is reached, the government must request to raise it in order to continue to borrow money to pay for its expenses. Recently, there has been a debate in Congress about whether or not to raise the debt ceiling, and the impact it will have on the common man.

Debt ceiling hike explained: how it affects the common man

If the debt ceiling is not raised, the government will be unable to borrow more money and may be forced to default on its loans. This would have a significant impact on the economy and the average American. Interest rates may rise, making it more expensive to borrow money for mortgages, car loans, and credit cards. Additionally, social security and other government benefits may be delayed or reduced, which could have a detrimental effect on retirees and those who rely on these programs.

However, if the debt ceiling is raised, the government will be able to continue borrowing money to pay for its expenses. This could lead to an increase in the national debt, which may be passed down to future generations. It may also lead to inflation, as more money is printed to pay for government spending. This could result in the price of goods and services increasing, making it more expensive for the average American to afford the things they need.

The pros and cons of raising the debt ceiling for everyday Americans

The main advantage of raising the debt ceiling is that it allows the government to continue to pay its bills and provide essential services to the American people. It can also help to stabilize the economy by ensuring that interest rates remain low and that the government can continue to invest in infrastructure projects.

However, raising the debt ceiling also has its disadvantages. It can lead to an increase in the national debt, which may be passed down to future generations. It can also lead to inflation, which may result in a decrease in the purchasing power of the dollar. Additionally, some argue that raising the debt ceiling may encourage the government to spend beyond its means, which could lead to further economic problems down the road.

Overall, the decision to raise the debt ceiling is a complex one that has far-reaching consequences for the economy and the average American. While it may be necessary in the short term to ensure that the government can continue to function, it is important to consider the long-term implications before making a decision. As always, it is up to our elected officials to weigh the pros and cons and make the best decision for the American people.

What is all about the debt ceiling?

What is all about the debt ceiling?

Debt is a pit, That you dig in front of you.

I heard above when someone saying it to someone who is in deep debt.

The deeper the pit becomes, and when a slight wobble pushes you into the pit, then the drama starts.

If the pit is deep, your chances of survival will be less or your injuries will be more.

If the pit is not deep, your chances of survival are more and without injuries.

The world runs on Debt and credit, these two terms control our life apart from our Brains.

Here are the questions most of us unaware of or tend to think we know but do not in reality.

On what basis does the govt print currency? and what is the debt ceiling?

Can any government print currency as much as they can?

What is this new chatter about a Trillion-dollar platinum coin?

The below videos will help in getting answers to the above questions.

On what basis does the govt print currency? and what is the debt ceiling?

Can any government print currency as much as they can?

The answer is the below video.

What is this new chatter about a Trillion-dollar platinum coin?

Also please check “Natural Experiments Nobel Prize Economy

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