4min chapter

We the People cover image

The Public Debt Clause and the Debt Ceiling

We the People

CHAPTER

The Supreme Court's Decision in Perry v. Madison

Chief Justice Hughes said section four of the 14th Amendment didn't just apply to the debt rung up during the Civil War. The court also seemed to say that there was actually a general principle that went back to the founding that the United States had to repay its debts in some general sense. But the only thing is it's not a majority opinion, so it's not binding in any way should a case be brought now around section four or some issue regarding a sort of partial default.

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