The latest spate of flim flamery making the rounds on the debt ceiling is, yes, another " nuclear option" whereby Obama simply ignores the debt limit and continues to spend. The legal under pinning for this flaunting of statutory law is supposedly in the fourteenth amendment. The proponents claim that all the silly wrangling over debt limits that have dominated political debate since the end of World War Two are really moot as the Fourteenth amendment has vested the power solely in the President. Senator Charles Schumer acknowledges the White House is considering the option. Constitutional arguments aside, go ahead Mr. President make our day.
The predicted outcome by the proponents of the Fourteenth amendment option envision a lengthy court fight while Obama continues to spend and eventually prevails by a 5 to 4 decision. Regardless what the court says there is a deep and even agonizing view of the public debt with dire predictions of national bankruptcy, riots in the streets, severe economic depression among the voters. Presently that angst is so deep and grave that Daniel Webster himself could not make the case for more spending were he to be resurrected for that sole purpose. Ignoring Congress on the debt issue would be like incurring all of the political liabilities of Obamacare and none of the benefits.
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