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Bob Levy

Oct 14, 2026

19:17
So what about the constitutionality of excessive spending, which we've got a lot of going on right now, which can also affect the integrity of our debt?
19:26
Yeah, there are a few devil's advocates.
19:27
They've argued that the 14th Amendment might actually mandate higher taxes or the sale of public property or budget cuts if the validity of the public debt would otherwise be called into question.
19:43
So my view on that is that those, uh, policies are not constitutionally required.
19:51
A more plausible interpretation is that Congress can't cap all of those sources of funds which could be used to pay the debt, but not...
20:03
Congress could cap some of those sources.
20:06
So a debt ceiling is constitutional as long as all the means of repayment, aside from getting more debt, are not statutorily barred.
21:55
So who would have legal standing to challenge the president if he borrowed above the ceiling?

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