House Democratic Leaders to President:
Use The 14th Amendment
(HuffPo) WASHINGTON -- House Democratic leaders emerged from a Wednesday Caucus meeting with a message for President Barack Obama: Invoke the Constitution to resolve the debt standoff.
If Congress can't reach a deal on a long-term debt limit increase by August 2, Obama should "sign an executive order invoking the 14th Amendment," said Assistant Minority Leader James Cyburn (D-S.C.).
"I am convinced that whatever discussions about the legality of that can continue," Clyburn said. "But I believe that something like this will bring calm to the American people and will bring needed stability to our financial markets."
House Democratic Caucus Chairman John Larson (D-Conn.) acknowledged that Obama has previously expressed doubts about his legal authority to unilaterally raise the debt limit. But circumstances have changed, Larson said, and "we just want to let him know that his Caucus is prepared to stand behind him" if Congress fails to pass a long-term deal.
"We have to have a fail-safe mechanism," Larson said. "We believe that fail-safe mechanism is the 14th Amendment and the president of the United States."
Section 4 of the 14th Amendment states: “The validity of the public debt of the United States, authorized by law, including debts incurred for payments of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” Essentially, Democrats are arguing that since the "public debt" cannot be questioned, then the debt ceiling itself is unconstitutional.
Democratic Senators have been eying this option since late June. Sen. Chris Coons (D-Del.), an attorney, predicted at that time the the constitutional option may get "a pretty strong second look as a way of saying, 'Is there some way to save us from ourselves?' (read rest of article)