Nadler-Johnson Resolution Affirms President's Power to Raise Debt Ceiling Unilaterally
In the absence of congressional movement by the August 2nd deadline, the President has authority under Section 4 of the 14th Amendment to pay all U.S. debts
WASHINGTON, D.C. – Today, Representatives Jerrold Nadler (D-NY), Hank Johnson (D-GA), Eliot Engel (D-NY), Keith Ellison (D-MN), Raul Grijalva (D-AZ), and John Garamendi (D-CA) introduced a Resolution, H.Con.Res.68, affirming President Obama’s power to invoke Section 4 of the 14th Amendment of the Constitution to unilaterally raise the debt ceiling, in the event that the Congress fails to reach a compromise by the August 2nd deadline.
Such an action is necessary if a congressional impasse imperils the stability of the nation’s economy.
“Now is the time to pay our creditors,” said Nadler. “If Congress cannot act, then the President has no choice but to exercise his duty to ‘take Care that the Laws be faithfully executed.’ He is obliged under section 4 of the 14th Amendment to pay this nation’s debts, even if a lawless and irresponsible Republican Congress refuses to do so.”
“The President should be able to legally turn to the 14th Amendment as a failsafe to prevent a national default – especially if Congressional Republicans continue to refuse to negotiate a balanced solution,” said Rep. Johnson.
“We are three days until our country defaults on its debt for the first time in its 235-year history,” said Engel. “It is incredibly irresponsible that it has gotten this far, and for me, completely unacceptable for the burden to be placed on our working families, low-income individuals, and our seniors and retirees. While I am hesitant to have Congress defer to the Executive branch, it is clear that the dangers of defaulting on our debts should be our primary concern. The Tea Partiers call themselves Constitutionalists but are willing to violate the Constitution by defaulting on our debt.”
“If this Republican-manufactured debt crisis is not averted this weekend, the United States risks default, and that would have devastating consequences for seniors, students, middle class families, and small businesses,” said Garamendi. “The President should know that if he needs to use his powers under the 14th Amendment to avert an economic catastrophe, we have his back. A compromise is preferable, but financial suicide is not an option.”
Following the Civil War, the United States adopted the 14th Amendment to the United States Constitution, Section 4 of which says: “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.”
The Resolution, specifically, expresses: “the sense of Congress that the President should ensure that the United States does not default on its debt by making every effort to negotiate passage of an increase in the statutory debt ceiling or, all such efforts failing, should use his authority under section 4 of the 14th Amendment to the United States Constitution to pay all debts of the United States as they come due.”
What H.Con.Res.68 does:
The President should –
1) Work with the Congress to secure passage of an increase in the statutory debt ceiling;
(2) Make clear that under no circumstances will the United States fail to pay its debts on time and in full;
(3) Make clear that, all other efforts failing, he will use his authority under the 4th clause of section 3 of article 2, to uphold section 4 of the 14th Amendment to the United States Constitution to ensure payment of all debts of the United States on time and in full; and
(4) Take any and all actions necessary to preserve the full faith and credit of the United States.
To read the Resolution, click HERE.
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