Xվ NEWSRADIO OPINION

Ross: As artificial debt crisis looms President Biden needs to act

May 2, 2023, 8:02 AM | Updated: 8:14 am

debt crisis...

House Speaker Kevin McCarthy of Calif., talks with reporters outside the West Wing of the White House in Washington following his meeting with President Joe Biden, Wednesday, Feb. 1, 2023. (AP Photo/Jacquelyn Martin)

(AP Photo/Jacquelyn Martin)

You may remember Robert Reich as a professor, author, lawyer, political commentator, and Secretary of Labor under Bill Clinton – or you may remember him simply as one of the shortest public officials ever, which I am allowed to say, as a person of shortness myself.

He’s 4′ 11″.

More from Dave Ross: Motorcycle Banditos are more respectful drivers than most Seattleites

But Robert Reich has come up with a very interesting idea for avoiding the rapidly-approaching artificial debt crisis.

His advice to President Biden is to ignore it.

Dr. Reich posted on his blog yesterday that the President is actually bound by his constitutional oath to pay the government’s bills whether Congress acts or not!

It’s in the 14th Amendment, Section 4, which, as we all know, begins, “The validity of the public debt of the United States, authorized by law, including debts for payment of pensions, etc., etc., Shall. Not. Be. Questioned.”

You can’t even say, “Hey, should we pay the debt this year?” You have to shut up and pay it.

The way Reich reads that it means that when Congress passes a budget, it automatically authorizes whatever borrowing is necessary to pay for it.

So he says that debt limit or not– the President has a Constitutional obligation to continue to pay the bills, including everything from salaries to interest payments.

That, of course, would send the issue straight to the Supreme Court, where it would be up to the nine justices to decide whether the United States is officially a deadbeat nation.

But I’m not too worried.

Because as we learn more and more about the immense wealth held by a number of the justices and their spouses, some of which I’m pretty sure have been parked in bonds issued by the U.S. Treasury, I think I know how they will rule.

Listen to Seattle’s Morning News with Dave Ross and Colleen O’Brien weekday mornings from 5 – 9 a.m. on Xվ Newsradio, 97.3 FM. Subscribe to the podcast here.

Dave's Commentary

Dave Ross on Xվ Newsradio 97.3 FM
  • to Xվ Newsradio weekdays at 5am for Dave Ross on Seattle's Morning News.

Xվ Newsradio Opinion

...

MyNorthwest Video

Video: A Letter By John Curley: My Bicycle and My Dad

John writes a letter about his late father, sharing one of his favorite memories to honor him for Father’s Day. Listen to The John Curley Show every weekday at 3pm on Xվ Newsradio 97.3 FM. Listen to Xվ Newsradio 97.3 FM, or visit MyNorthwest.com to learn more!

16 hours ago

...

MyNorthwest Video

Video: Pagliacci Pizza Partners With Zipline for Drone Delivery

Pagliacci Pizza is taking pizza delivery to new heights—literally! As it expands with a new 27th location in Redmond (near the light rail station), the beloved Seattle-based chain is partnering with Zipline to test drone delivery by year’s end Listen to the Jake and Spike Show every weekday from 12pm – 3pm on Xվ Newsradio […]

19 hours ago

...

MyNorthwest Video

Video: What Does Israel’s Preemptive Attacks on Iran Mean?

Army Veteran, Cybersecurity Executive and Geopolitical expert Steven Butler joins John Curley to discuss the significance of Israel’s preemptive attacks on Iran. Listen to The John Curley Show every weekday at 3pm on Xվ Newsradio 97.3 FM. Listen to Xվ Newsradio 97.3 FM, or visit MyNorthwest.com to learn more!

20 hours ago

no kings protest seattle...

Frank Sumrall

‘On the right side of history’: 70,000 join peaceful No Kings protest in Seattle before unrest flared up after dark

More than 70,000 people turned out for the No Kings protest that started at Cal Anderson Park at 12 p.m. Saturday before marching to the city's downtown neighborhood.

20 hours ago

Seattle Pride Parade...

Seattle's Morning News

‘Really unfortunate’: Corporations pulling out of Seattle Pride over Trump admin.

Major corporations are pulling funding from Seattle Pride amid political tensions.

2 days ago

...

MyNorthwest Video

Video: Did the “Tacoma Aroma” Create Serial Killers?

Was the toxic “Tacoma Aroma” of the 1960s & 70’s the cause of Ted Bundy and the Green River Killer’s murder sprees? Author Caroline Fraser thinks so! Listen to The John Curley Show every weekday at 3pm on Xվ Newsradio 97.3 FM. Listen to Xվ Newsradio 97.3 FM, or visit MyNorthwest.com to learn more!

4 days ago

Ross: As artificial debt crisis looms President Biden needs to act