Former US Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling – Economics Bitcoin News

Robert Reich, the former US Secretary of Labor, called on the government to bypass Congress in order to unilaterally raise the debt ceiling. The US Constitution gives President Biden the power to ignore this debt limit, Reich says, declaring it unconstitutional — making clear that its existence is less important than the mandate not to question the validity of the US public debt.

Robert Reich advocated ignoring the debt ceiling in Congress

Robert Reich, an economist who served as US Secretary of Labor during President Bill Clinton’s administration and was an advisor under President Barack Obama, urged the government to ignore the congressional body in setting the debt ceiling. In a video posted to social media, Reich called on President Biden to ignore Congress and raise the debt ceiling, which was established in the US Constitution’s mandate over the country’s public debt.

Reich believes that Republicans are trying to negotiate tax cuts that will hit several key benefits destined for vulnerable sectors, including health care, education, veterans’ benefits and others, and use raising the debt ceiling for political pressure.

Reich bases his advice on Fourteenth Amendment of the United States Constitution, which declares that “the validity of the public debt of the United States, permitted by law, including debts incurred for the payment of pensions and emoluments for services in suppressing insurrection or rebellion, shall not be questioned.” According to him, this enables the president to take unilateral action to raise the scheduled debt ceiling.

More explanation

In his video clip, Reich explains that the oath taken before the constitution and preserving the nation’s well-being is more important than the debt ceiling. he to explain:

Mr. President, your oath to uphold the Constitution takes precedence. As the supreme law of the country, the Constitution carries more weight than the law regarding the debt ceiling.

He also made it clear that this measure, if taken, would not interfere with the colleges currently in Congress. He said:

The Constitution makes clear that the power of Congress to borrow money does not include the power to default on such loans.

Other economists have stated that the United States will default on its debt, such as Peter Schiff, who believes that this will happen sooner or later. The talks were bipartisan on the issue of the debt ceiling Delayed until Friday, but Senate Majority Leader Chuck Schumer said House Speaker Kevin McCarthy would not take the possibility of default off the table during the last meeting, resulting in a deadlock.

What do you think of Robert Reich’s calls to ignore the debt ceiling set by Congress? Tell us in the comments section below

Sergio Gushchenko

Sergio is a cryptocurrency journalist based in Venezuela. He describes himself as late to the game, getting into the crypto world when the price spike occurred during December 2017. Having a background in computer engineering, living in Venezuela, and being affected by the cryptocurrency boom on a social level, he offers a different perspective on the success of cryptocurrency and how it helps Unbanked and underserved people.

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