Here s how the 14th Amendment factors into the debt ceiling debate localnews8.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from localnews8.com Daily Mail and Mail on Sunday newspapers.
The president and his aides, the Times reports in an apparent trial balloon, are weighing a scheme to mount ‘a constitutional challenge to the debt limit.’
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.