by Carl Gibson
What if there was a group of terrorists holding your family hostage with a gun pointed at themselves, demanding the account number to your pension fund? Would you negotiate with the terrorists by allowing them access to your savings, or would you let them shoot themselves and keep your retirement money intact?
Congressional Republicans are threatening to default on the debt unless President Obama caves to their demands to cut Medicare, Medicaid and Social Security spending. Regardless of the market-crashing consequences of a debt default, actually doing so would be unconstitutional. Section 4 of the 14th Amendment clearly states that "The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions...shall not be questioned." Republicans are violating the constitution by threatening a debt default. End of discussion.
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