Those who think the president can say that the 14th Amendment allows the government to keep creating debt beyond the debt limit were dealt a blow just now, when Barney Frank derided the idea in a hearing called by Democrats.
"I think it would cause a great crisis in our democracy" if debt was created without a rise in the debt limit, Frank told economist Bruce Bartlett, a former Republican who has been talking up the "constitutional option." Frank simply didn't see a way for this to work, and warned of political disaster.
"The anger in the country, the political bitterness and the vitriol, would be amplified," he said, "and you'd let people off the hook for their irresponsibility."
TODAY IN SLATE
More Than Scottish Pride
IOS 8 Comes Out Today. Do Not Put It on Your iPhone 4S.
Why Greenland’s “Dark Snow” Should Worry You
How Much Should You Loath NFL Commissioner Roger Goodell?
Here are the facts.
Three Talented Actresses in Three Terrible New Shows
The Human Need to Find Connections in Everything
It’s the source of creativity and delusions. It can harm us more than it helps us.
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- Gun-Control Group Investigates 81 People Looking for Guns Online, Finds Eight Have Criminal Records
Happy Constitution Day!
Too bad it’s almost certainly unconstitutional.