The Case for Violating the Debt Limit Is Dangerous Nonsense

NYT OPINION: The Case for Violating the Debt Limit Is Dangerous Nonsense
By Michael W. McConnell
Section: Opinion
Source: New York Times
Published Date: May 14, 2023 at 03:00AM

The president does not have the authority to exceed the limit, regardless of what his advisers are telling him.

President Biden is playing a dangerous game. When the federal government’s deficit spending is about to exceed the amount Congress has authorized it to borrow and the Treasury has run out of what are known as “extraordinary measures” to stave off disaster, Congress and the president must negotiate a compromise resolution, or the nation faces the prospect of default. The House of Representatives has already passed a bill that would raise the nation’s debt limit by $1.5 trillion, coupled with proposed spending cuts, and its Republican leaders have signaled a willingness to negotiate. Mr. Biden instead has demanded that Congress raise the debt ceiling without conditions. But the House Republicans’ insistence on negotiations and compromise is not “hostage taking.” It is the ordinary stuff of politics. The two sides can posture all they want, but in the end, Congress and the president have to reach an agreement. That is not a bad thing. It is a good thing. The Constitution does not permit a unilateral solution on either side. Begin with constitutional basics. Article I, Section 8 lists the powers of Congress. The first clause of Section 8 provides that Congress may “lay and collect taxes.” The second clause provides that Congress has the power “to borrow money on the credit of the United States.” These clauses are absolute. The executive branch cannot impose taxes or borrow funds on its own authority. Together with the power over spending, these powers are known as the “power of the purse,” which belongs entirely to the legislative branch.

Read more at: https://www.nytimes.com/2023/05/14/opinion/debt-limit-constitution.html