Regardless, Dorf added, Supreme Court justices will want to stay far away from economic armageddon.
“Otherwise, you’re going to have the threat of a slap-dash decision, which at least speaking with respect to the Supreme Court is not what they’re going to want to do,” Brand added. “The economic consequence would happen immediately, long before it ever got to court,” McConnell added. “This is just an illegal, foolish idea.”“I don’t think it’s very complicated,” he said. “The president does not have authority to borrow money without authorization from Congress. Congress has authorized borrowing up to a certain point. He has no power to borrow beyond that point. The 14th Amendment has nothing to do with it.
“If you sell bonds of dubious legality, it’s not clear who has standing,” Dorf said. “If you sell them to the Fed, I’m not sure anybody has standing to challenge that.”
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