In a private luncheon with columnists Wednesday, Rep. Nancy Pelosi D-CA told columnists that President Obama should forget about establishing a debt ceiling and disregard any limit on US borrowing because such legislation is unconstitutional.
Pelosi was referring to the impending debate about raising the United States debt ceiling and the bitter partisan debate that occurred as a result.
Section 4 of the 14th Amendment states, “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.”
Under this rule, Pelosi perceives the U.S. public debt to be legally acceptable, and therefore setting a maximum threshold to how much money the U.S. can borrow is a violation of the 14th amendment.
“I would like to see the Constitution used to protect the country’s full faith and credit,” Pelosi claimed, presumably referencing the credit downgrade that occurred after last year’s prolonged debt debate.
The former Speaker of the House has expressed heavy concern over the possibility of another heated debt debate, saying that America’s leaders, “cannot put the country through the uncertainty” that occurred during the last debt fiasco.
While the Constitutionality of removing the debt ceiling so the United States can freely borrow and spend is certainly debatable, as evidenced by conservatives’ calls for a balanced budget amendment to the Constitution, Pelosi certainly demonstrates indifference to the nearly $16 trillion that the United States presently owes by arguing that the US debt ceiling should be eliminated entirely. It is exactly this kind of spend spend spend mentality that got the US in its increasingly volatile debt crisis in the first place.