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Government Shutdown / Congress and the Senate
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<blockquote data-quote="oldngray" data-source="post: 1209622" data-attributes="member: 45230"><p>Congress and only Congress can authorize borrowing under Article I. The president must first pay interest on the debt under the 14th Amendment. The federal government collects 10 times as much revenue each month as it needs to cover those payments. As long as the president complies with the Constitution there can be no default.</p><p></p><p><a href="http://www.forbes.com/sites/jeffreydorfman/2013/10/03/dont-believe-the-debt-ceiling-hype-the-federal-government-can-survive-without-an-increase/" target="_blank">http://www.forbes.com/sites/jeffreydorfman/2013/10/03/dont-believe-the-debt-ceiling-hype-the-federal-government-can-survive-without-an-increase/</a></p></blockquote><p></p>
[QUOTE="oldngray, post: 1209622, member: 45230"] Congress and only Congress can authorize borrowing under Article I. The president must first pay interest on the debt under the 14th Amendment. The federal government collects 10 times as much revenue each month as it needs to cover those payments. As long as the president complies with the Constitution there can be no default. [url]http://www.forbes.com/sites/jeffreydorfman/2013/10/03/dont-believe-the-debt-ceiling-hype-the-federal-government-can-survive-without-an-increase/[/url] [/QUOTE]
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