Some people are worried about the potential Constitutional crisis if President Obama uses the 14th Amendment to declare the debt ceiling voting unconstitutional. The reality though is that we are already in the midst of a full blown Constitutional crisis that is will likely only get worse in the coming years. Whether or not you [...]

I spoke with Barney Frank today about the current debt ceiling debate. He said he would not vote for any bill that raised the debt ceiling which included cuts to Social Security or Medicare benefits, including a chained CPI, which is included in the Gang of 6 deal.

Writers like, Ezra Klein and Greg Sargent, who have bought into the idea that that debt ceiling must be raised by August 2nd to avoid catastrophe, are very worried about this new Pew poll that found the country evenly divided on the dangers of the debt ceiling. The poll found that 39 percent thought we [...]

Former President Bill Clinton said he would use the 14th amendment to get around the debt ceiling if there was no other option in an interview with the National Memo. Former President Bill Clinton says that he would invoke the so-called constitutional option to raise the nation’s debt ceiling “without hesitation, and force the courts [...]

During an interview with with CBS News President Obama said he couldn’t guarantee that Social Security checks will go out after August 3rd. Clearly the move is a scare tactic to force Congress into reaching a deal, but what Obama is threatening is both illegal, unconstitutional and financially illogical. There is no reason Social Security [...]

The White House has been trying to maneuver everyone into reach a big austerity deal, but I simply can’t see Obama carrying out his short term veto threat unless the administration had been lying other aspects of the debt ceiling issue.

The only way cuts to Medicare and Social Security benefits can become law as part of a debt ceiling deal is if a significant number of Congressional Democrats vote for those cuts. A bloc of Congressional Democrats can stop these cuts if they simply vote against them, using the leverage they have. Republicans control the [...]

The Republican’s have been so successful in their hostage taking tactics not because the GOP are amazing negotiators but due to the fact Obama wants them to have a hostages. The Obama administration is told the Republicans they are negotiating with that they don’t believe the 14th amendment grants it the authority to ignore the [...]

Perhaps the best way to look at the possibility of President Obama using the 14th amendment to declare the debt ceiling unconstitutional, is not to wonder if Obama has the will to use it, but question whether he has the resolve it would take not use it.

The word debt means simply to owe something, its definition is not just limited to official financial products such as bonds. Thinking the word debt only refers to financial products is what I believe is the core mistake with Kevin Drum‘s argument that the debt ceiling vote could be constitutional. Maybe I’m missing something here, [...]