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Bob Levy
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APPEARANCES
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PODCASTS
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Oct 14, 2026
Colonizing Mars
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19:17Bob HardenHOST
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?
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19:27Bob LevyGUEST
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.
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19:43Bob LevyGUEST
So my view on that is that those, uh, policies are not constitutionally required.
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19:51Bob LevyGUEST
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...
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20:06Bob LevyGUEST
So a debt ceiling is constitutional as long as all the means of repayment, aside from getting more debt, are not statutorily barred.
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21:55Bob HardenHOST
So who would have legal standing to challenge the president if he borrowed above the ceiling?