Now, this 14th Amendment story, it’s a preposterous idea. There’s a notion here that somewhere in the 14th Amendment it says the president can spend money without Congress knowing about it or approving it. The idea is preposterous, and it was first floated as a trial balloon on a bunch of left-wing blogs, from the White House. The White House put it out, the left wing blogs run with it, then the AP picks it up as though it’s a genuinely referenced and sourced story from constitutional scholars. Then it goes into the Democrat Party’s political machine. Now Geithner is denying he ever supported the idea, but he did. Geithner was one of the guys first talking about its possibility.

Now, some legal experts believe that he could, Obama, citing the 14th Amendment, adopted in 1868, “The validity of the public debt of the United States authorized by law shall not be questioned.” And there’s more to this. There was a great piece at NationalReview.com on Friday by John Berlau, who was the director of the Center for Investors and Entrepreneurs at the Competitive Enterprise Institute, and his piece was entitled “Constitutional Nonsense on the Debt — Lo and behold! As we celebrated this Fourth of July amid the debt-ceiling fight, the netroots and progressive pundits suddenly discovered the Constitution’s relevance in fiscal matters. It doesn’t seem like that long ago — because it wasn’t that long ago — that they ridiculed the very idea of constitutional limits on Congress in economic policymaking, and even mocked the GOP’s public reading of the Constitution at the beginning of the current session.

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