The Fourteenth Amendment Is No Blank Check for Debt Increases
A clause of the Fourteenth Amendment to the United States Constitution provides, “The validity of the public debt of the United States…shall not be questioned.” Far from authorizing the President to incur more debt—a power vested solely in Congress—this clause bars Congress from repudiating debt that it has already incurred. Whether a default would amount to repudiation is an open question, but one that need not be answered at a time when tax revenues are sufficient to service current ...
United States Benjamin Wade Supreme Court Counsel Of The Treasury Department Fourteenth Amendment United States Constitution
Source: heritage.org