Billion Dollar Coins and Exploding Options -- oh my!

By Capt. Fogg

Maybe the President can't simply cite the 14th amendment and raise the debt ceiling, maybe he can -- but does the Constitution provide a paddle? Must he allow the Tea Party to shut down the government as the more mainstream Republicans attempted to do in 1995 during the Clinton administration?

You remember President Clinton, don't you, the guy that the snickering snarkmongers told us would only serve one term, who would destroy capitalism, plunge us into debt and start fake wars simply to allow him to become a dictator. I'm sure the parallels are coincidental. (wink, wink, nudge, nudge)

But Obama, even if if no Clinton, ( for better or worse) may still have options, says Jack M. Balkin, Knight Professor of Constitutional Law at Yale Law School. The Constitution has as many loopholes as the Tea Party has loonies, although some of them are as arcane as something out of the Da Vinci Code. There's the Platinum Coin gambit and the exploding Option Strategy, for instance.

Even so, all may not be lost for 14th amendment solution protagonists, like Bill Clinton and a few others says Balkin.

"If the president reasonably believes that the public debt will be put in question for either reason, Section 4 comes into play once again. His predicament is caused by the combination of statutes that authorize and limit what he can do: He must pay appropriated monies, but he may not print new currency and he may not float new debt. If this combination of contradictory commands would cause him to violate Section 4, then he has a constitutional duty to treat at least one of the laws as unconstitutional as applied to the current circumstances."

Balkin likens this dispute to recent attempts to topple the president over his ability to use the military to protect the national interest or in emergencies.

"If the courts won't intervene in the Libya affair, they probably won't intervene here."

But regardless of your opinion on the best way to beat back the barbarians, (whichever side you think they're on, Balkin's CNN exclusive interview is great reading and gives a glimmer of hope that the Constitution will do what it was designed to do, protect us.

Taking the 14th

"The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned."

14th Amendment, US Constitution
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Now, I'm no lawyer, which means that I generally take such statements at face value and have no knowledge of what pretzels they've been twisted into by various courts in various cases, but it seems to me that if congress can't question the validity of our public debt, then congress can't refuse to pay it or more importantly say it's only valid under a certain amount authorized by Congress after they've already deemed it legal. What do you think?

I hate to bring up the constitution at a time when the Tea Bag Patriots are pretending to worship it while claiming that those who would like to actually conform to it are "shredding it" but the situation is getting serious.

Of course this whole controversy is about "taking down" the president we elected by a good margin and replacing him with a Tea Party Republican of their choice hell bent not on reducing the debt, but killing Social Security, Medicare, all forms of welfare and any protection for the public against the health insurance cartel -- and all to make sure people like me can put an extra tank of fuel into the yacht every now and then thus creating jobs in the Bahamas and Taiwan.

After all they raised the debt ceiling every year a Republican was in office since the beginning of the Reagan administration and authorized Bush's massive debt explosion like a well disciplined private army. Remember when "debt doesn't matter" was the slogan? No? Well I do.

"Obama would be impeached if he blocked debt payments"

says Rep. Steve King (R-IA) and he'd also be impeached if he invalidated the debt ceiling based on the 14th amendment, says Rep. Tim Scott (R-S.C.) Talk about a poker player with a 'tell.' Might as well lay the cards on the table.

It's all about impeachment and all about finding some flimsy excuse or forcing the president into a position where they will impeach him if he does and impeach him if he doesn't. No more revolting, I guess than impeaching one for asking his secretary not to tell his wife he was having an affair. Talk about insurrection and rebellion! No sooner did we lose the Cold War gravy train then we embarked on the Cold Secession.

President Clinton of course told us recently that he wouldn't hesitate to use the 14th to raise the debt ceiling and "force the courts to stop me." You'll remember of course the attempts to impeach him on any pretext and how the talk of the "failure of the Clinton Presidency" preceded the Clinton Presidency and how he would certainly be a one term president and how his tax policies would bankrupt the economy. They hope you won't remember, of course because we're hearing the same damned bullshit again.

"I think the Constitution is clear and I think this idea that the Congress gets to vote twice on whether to pay for [expenditures] it has appropriated is crazy.”

said Bill Clinton to The National Memo last week. No wonder slimy things like the Newt are challenging the constitutional basis for even having a Supreme Court.

Meanwhile that 3% extra tax cut I get on anything I earn over $250,000 is going to prompt me to create jobs for those struggling people now paying for the longest, most expensive wars in American history while losing their houses, jobs, medical insurance waiting for the Voodoo to kick in and save us all -- and all will be fine just in time for a Tea Party president. I can feel it in my bones.