3min chapter

We the People cover image

The Public Debt Clause and the Debt Ceiling

We the People

CHAPTER

Do You Think the Debt Limit Should Be Abided By?

Professor Foner: Anything that could be done once the debt limit is breached would violate something. He says it's not at all guaranteed that the government would prioritize payments to bondholders. "I don't know what the opinions of most of the members of the Supreme Court are on these financial issues," he says.

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