- Posted October 9, 2013 by
Watertown, New York
This iReport is part of an assignment:
- Congress, Get Off the U.S. Post Office's Back! Small Business Needs Them
- Obamacare, U.S. Foreign Policy, Immigration and Our Economy- Journalism’s First Responsibility Is To Tell UsThe Truth
- Labor's "Surrender Monkeys"-23,000 People Have Applied For 600 Low-Wage Positions
- Iranian Sanctions Never Hurt Iran's Government; They Hurt Iran's People
- Democrats Hold Our Leadership Accountable, Republicans Don't
The Debt Ceiling is Unconstitutional and Redundant
No one needs to raise the debt ceiling. There's no need. To say otherwise is to go against our Constitution. Congress already authorized the spending.
"Fourteenth Amendment to the United States Constitution
Section 4. The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.
But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void."
This was written just after the Civil War.
Now in 1935,Perry v. United States, 294 U.S. 330 (1935) states that:
3. Congress cannot use its power to regulate the value of money so as to invalidate the obligations which the Government has theretofore issued in the exercise of the power to borrow money on the credit of the United States. Pp. 294 U. S. 350 et seq.
4. There is a clear distinction between the power of Congress to control or interdict the contracts of private parties when they interfere with the exercise of its constitutional authority and a power in Congress to alter or repudiate the substance of its own engagements when it has borrowed money under its constitutional authority. P. 294 U. S. 350.
5. By virtue of the power to borrow money "on the credit of the United States," Congress is authorized to pledge that credit as assurance of payment as stipulated -- as the highest assurance the Government can give -- its plighted faith. To say that Congress may withdraw or ignore that pledge is to assume that the Constitution contemplates a vain promise, a pledge having no other sanction than the pleasure and convenience of the pledgor. P. 294 U. S. 351.
6. When the United States, with constitutional authority, makes contracts, it has rights and incurs responsibilities similar to those of individuals who are parties to such instruments. P. 294 U. S. 352.
7. The right to make binding obligations is a power of sovereignty. P. 294 U. S. 353.
8. The sovereignty of the United States resides in the people, and Congress cannot invoke the sovereignty of the people to override their will as declared in the Constitution. P. 294 U. S. 353.
9. The power given Congress to borrow money on the credit of the United States is unqualified and vital to the Government, and the binding quality of the promise of the United States is of the essence of the credit pledged. P. 294 U. S. 353.
10. The fact that the United States may not be sued without its consent is a matter of procedure which does not affect the legality and binding character of its contracts. P. 294 U. S. 354.
11. Section 4 of the Fourteenth Amendment, declaring that "The validity of the public debt of the United States, authorized by law, . . . shall not be questioned," is confirmatory of a fundamental principle, applying as well to bonds issued after, as to those issued before, the adoption of the Amendment, and the expression "validity of the public debt " embraces whatever concerns the integrity of the public obligations. P. 294 U. S. 354."
Republicans that believe we can breach our trust with those whom hold our debt as a nation should think again.
It's my opinion that this would be breaking the law.
Congress swore an oath to uphold the Constitution.
Maybe the GOP should read the Constitution that they claim to defend. Then, they should read about the purpose of deficit spending and when we do that and why.
Businesses borrow money to invest in expansion all the time. That's why we have a credit system and banks.
They conceal these facts in books. Republicans should try opening one sometime.