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Biden admin. officals debating constitutionality of the debt ceiling, update: House passes debt ceiling bill (314-117)

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A standoff between House Republicans and President Biden over raising the nation’s borrowing limit has administration officials debating what to do if the government runs out of cash to pay its bills, including one option that previous administrations had deemed unthinkable.

That option is effectively a constitutional challenge to the debt limit. Under the theory, the government would be required by the 14th Amendment to continue issuing new debt to pay bondholders, Social Security recipients, government employees and others, even if Congress fails to lift the limit before the so-called X-date.

That theory rests on the 14th Amendment clause stating that “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.”


Some legal scholars contend that language overrides the statutory borrowing limit, which currently caps federal debt at $31.4 trillion and requires congressional approval to raise or lift.

Top economic and legal officials at the White House, the Treasury Department and the Justice Department have made that theory a subject of intense and unresolved debate in recent months, according to several people familiar with the discussions.


As the government heads toward a possible default on its debt as soon as next month, officials are entertaining a legal theory that previous administrations ruled out.


It took them long enough to realize that this was the route they were going to have to go. They're coming a little late to the game with this with a month to go until the limit is breached.

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Just now, Ricofoley said:

It took them long enough to realize that this was the route they were going to have to go. They're coming a little late to the game with this with a month to go until the limit is breached.


I've seen a compelling argument that doing this at the last minute looks a lot worse for the US than doing it well in advance with no fanfare and then just moving on like it's nbd.

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On 5/10/2023 at 4:29 AM, SuperSpreader said:

You don't pay taxes on the first 100k


There's a lot of headaches about differences in what's taxable. And it can be very expensive to find someone who can handle your taxes depending on what country you're living in. And basically no other countries makes its citizens file if you're not living there.

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50 minutes ago, Remarkableriots said:

Social Security recipients could face interruptions in their payments, and need to be prepared, one expert said, but many have little flexibility to stave off financial crisis by themselves.



Given how much of state and local government is funded by the feds, I don't think people fully appreciate how bad it could get. 

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22 minutes ago, legend said:


Greece is who you're going with for the political high road? 



ATHENS - Greece's once-battered economy, which required three international bailouts totaling €326 billion ($354.81 billion), and was on the verge of being expelled from the Eurozone, has made a significant...


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House Republicans voted last month to rip away health coverage from hundreds of thousands of people when they voted to impose work requirements as a condition of eligibility for Medicaid, writes disability advocate Mia Ives-Rublee. She says that if the measure – which is part of the roiling national debt ceiling debate – becomes law, an estimated 600,000 people would lose coverage.


One of the brain dead things the GOP is demanding. It's so bad it's actually a work disincentive for people like me since simply getting a doctor to say I can't work is way easier than whatever half baked reporting system they implement. It also massively incentivizes fucking Guardianship to get the parental caregiver exception, Guardianship is something the disability community has been trying to scale back (public schools have a bad track record pushing Guardianship on transitioning disabled youth). NC is about to put it into law that Judges have to prove alternatives don't work before granting Guardianship. 

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