TerryMathews
Lifer
- Oct 9, 1999
- 11,473
- 2
- 0
No! Validity means the debt is valid . Meaning; if it is not paid the character of the debt does not change form to some invalid state.
No one questions the validity of the debt for purposes of paying it but, rather, are there funds to pay what has been incurred. The 'Full Faith and Credit' clause deals with the States and not the National Debt, however, one could argue that there exists an unambiguous nexus between the States regarding each State's obligation toward another State's portion of debt (the persons of the various States) and that the central government is simply a conduit through which this obligation is satisfied and additionally, treaties among various Nations obligates payment of debt among those Nations (again, persons of the various Nations are the Nations)
I'd probably be laughed off the stage if I were to argue this but, non-the-less I do.
The Point, however, is: Do the acts of Congress mandate the accommodation of either payment or increases to the total debt obligation of the US. This, in my opinion is a no brainer... Of course it does. Either it is paid or it is owed and Congress must arrange for this. Congress cannot authorize without including the payment feature...
hehehe... If one has a premeditated notion to incur debt and not to pay it back it might fall under the fraud statutes... Congress can't intentionally defraud the people or the nations.... so unsightly a thing to do... and sick bird ... sick bird... (illegal)
Furthermore, the issue isn't the debts themselves but the method of payment. We are borrowing money from foreign sources to pay these debts.
Paying isn't the problem, borrowing is. Borrowing is and has always been the domain of Congress.
If Mr. Obama had a balanced budget, he would not need the debt ceiling raised.