This is an artifact of the days when Congress itself issued - TopicsExpress



          

This is an artifact of the days when Congress itself issued individual debt obligations, as per the Constitution. While the size of the debt prevents that now, Congress has never given up on this as a power. Some might regard raising interest rates as a good thing, especially retirees who are getting no return right now. Others, who are of a libertarian bent, are hoping for some kind of economic and political collapse and the advent of liberty because of it - although the experience of the Weimar Republic should be enough to convince them that such collapses lead to authoritarianism, not freedom. Given the full faith and credit clause in the 14th Amendment, the President should take the hint and declare that the limit itself is unconstitutional, eliminating this issue forever.
Posted on: Wed, 02 Oct 2013 18:30:53 +0000

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