At Balkinization, Gerard N. Magliocca: Mea Culpa
During the debt ceiling showdown this summer, I argued that, in the event that the Treasury could not meet our debt obligations, the President would have the authority to borrow unilaterally to prevent a violation of Section Four of the Fourteenth Amendment, which says that "The validity of the public debt of the United States, authorized by law . . . shall not be questioned."
I've changed my mind…
Posted at 9:30 PM