Section 4. The validity of the public debt of the United States, authorized by law, shall not be questioned.
Under US Debt Ceiling law, an administration can spend only if it has sufficient funds to pay for it. These funds can come either from tax receipts or from borrowing by the United States Department of the Treasury. Congress has set a debt ceiling, beyond which the Treasury cannot borrow.
There seems to be a conflict in the above law and amendment that could see the Debt Ceiling law unconstitutional.
I could see the Debt Ceiling law modified to say we will pay our prior debts with revenue and borrowing, as needed, but any borrowing over that debt would require congressional approval.
How would you handle this issue?
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Michael H. Drucker
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