2min chapter

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On the Debt Ceiling, the White House Is Doing What It Said It Wouldn't Do

Odd Lots

CHAPTER

The 14th Amendment and the US Debt

The 14th Amendment is not a verb. This isn't something that is like, as our mutual friend, Carlos Mucha says, this is not a sword. A lot of constitutional scholars who are, you know, I would say highly respected believe is that it is unconstitutional for the US default. Everything needs to be done to avoid a default. And so I think sometimes people think that you can just like invoke the 14th Amendment, like your Michael Scott in the office declaring bankruptcy and something will happen. Exactly.

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