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
Slate Plus Early Read: The Self-Made Man
The story of America’s most pliable, pernicious, irrepressible myth.
Rehtaeh Parsons Was the Most Famous Victim in Canada. Now, Journalists Can’t Even Say Her Name.
Mitt Romney May Be Weighing a 2016 Run. That Would Be a Big Mistake.
Amazing Photos From Hong Kong’s Umbrella Revolution
Transparent Is the Fall’s Only Great New Show
Rehtaeh Parsons Was the Most Famous Victim in Canada
Now, journalists can't even say her name.
Lena Dunham, the Book
More shtick than honesty in Not That Kind of Girl.