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View Diary: President Obama: Debt Ceiling Negotiation "Is Not A Game I Will Play." (117 comments)

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  •  Right, no default (1+ / 0-)
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    nailbender

    The US government must pay its financial obligations. A government shutdown is possible, but not a default.

    That provision of the 14th Amendment is there because the USA wanted to assure its Civil War creditors that they would be paid back in full.

    By the way, Bush violated the 14th Amendment when he called the Treasury's obligations to Social Security "a bunch of I.O.U's." Would've loved to see that little tidbit tacked onto articles of impeachment.

    Government and laws are the agreement we all make to secure everyone's freedom.

    by Simplify on Thu Dec 06, 2012 at 01:04:50 AM PST

    [ Parent ]

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