You forgot the option where we might be worried about it because the Democratic administration is threatening to default on debts despite the constitutional obligation to pay them.
I honestly am a bit worried about it.
That's exactly what I'm pointing out to be false.
The Treasury pays the bills. The Treasury is part of the executive branch, controlled by Biden. Under the US system of government, it's up to the president to have the Treasury pay debt obligations... or not.
Congress can't default even if it wanted to. They don't have that authority since the Treasury isn't part of their branch of government.
So Biden has spent all these months threatening to have the Treasury not pay bills unless he's given more power to borrow.
It's a completely backwards spun story that relies on people not knowing how the federal government works.
@volkris Are you saying the debt ceiling is unconstitutional, irrelevant, or both?
Not only is the debt ceiling constitutional, but it is constitutionally mandated.
The Constitution assigns to Congress responsibility for borrowing on the nation's credit, which makes sense because if generations might be on the hook to pay the money back, it makes sense to be sure that the representatives of the people really are on board with committing the people to that debt.
The debt ceiling is merely the shorthand we use to refer to what Congress has decided to borrow.
Far from irrelevant, the debt ceiling is a critical part of the operation of the US system of government.
@volkris Where in the constitution does it say that there should be an arbitrary limit on the nation's debt, or any limit, for that matter?
It's in Article I section 8:
“The Congress shall have Power [..] To borrow Money on the credit of the United States;”
The debt ceiling is simply what we call the arbitrary amount that Congress has ordered to be borrowed.
@volkris I don't see anywhere that Congress has the right to refuse to pay our debts, which rise because of interest charges. You are essentially saying the equivalent of me telling a credit card company "I only borrowed $5000. That's all I'm going to pay, even though when you add the interest, my bill is now $6000." If Congress wants to reduce spending, fine. They can submit and negotiate a budget. They can't refuse to pay debts already incurred.This circular argument is getting old. Ciao.
You're looking at the wrong branch of government.
Paying things, whether it's debts or buying fighter jets or anything else, is an executive branch function carried out by the Treasury. It's not up to Congress because they are the legislative branch. It is up to the president to have his Treasury pay the debts, and Congress has no say in that.
This is why we really need to call out the president for threatening not to pay debts. He keeps using that as spin to point the finger at the other branch of government when in reality it's 100% up to him.
@volkris OK then $trillion coin it is. What a stupid argument.
No, the Treasury reports that it has plenty of money to cover the debt, regardless of what the politicians are selling, so Biden just needs, and is constitutionally required to, have the Treasury service its debts as they come due.
The Treasury brings in trillions of dollars but the debt servicing only costs something like $500 million, so it has the money. It just has to pay the debts, as it is constitutionally obligated to do.
This wouldn't even be a discussion except that the president is pushing for more power to borrow.
@volkris
The. President. Can't. Spend. Money. Until. Congress. Appropriates. It.
Well right, and Congress has already appropriated it, but more directly, the president HAS TO pay off debts.
The Constitution is specific, there is no choice, the president doesn't get to decide, he has to pay the debts.
I know Biden has spent months threatening not to, as if he has a choice, but he does not, he has to pay them. Or face impeachment.
@volkris The Biden administration is not threatening default, the Republican Congress is. The Administration is threatening to use the 14th Amendment to pay the debts despite Congress's blackmail.