Former U.S. Secretary of Labor Robert Reich Urges Bypassing Congress to Raise Debt Ceiling
Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally.
Robert Reich, former secretary of labor in the U.S., has called for the government to bypass Congress in order to raise the debt ceiling unilaterally. Reich states that the constitution of the U.S. gives President Biden the faculty of ignoring this debt limit, declaring it unconstitutional — explaining its existence is less significant than the mandate of not questioning the validity of the U.S. public debt.
Robert Reich, an economist who served as U.S. secretary of labor during the government of President Bill Clinton, and was a counselor under President Barack Obama, has urged the government to ignore the faculty of Congress to establish the debt ceiling. In a video posted on social media, Reich called on President Biden to ignore Congress and raise the debt ceiling, founded in the mandate of the U.S. Constitution regarding the public debt of the country.
Reich believes that Republicans are trying to negotiate tax cuts that will affect several key benefits directed to vulnerable sectors, including healthcare, education, veterans’ benefits, and others, and use the raising of the debt ceiling for political leverage.
Reich bases his exhortation on the fourteenth amendment of the U.S. Constitution, which declares that “the validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties 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 established debt ceiling.
What India's Decision to Scrap its 2000-Rupee Note Means for its Economy
India will withdraw its highest denomination currency note from circulation, the central bank said on Friday.
Marketmind: Get Ready for the Debt Ceiling Rally
U.S. President Biden delivers remarks on debt ceiling talks and “preventing a first-ever government default” at the White House in Washington.
Etsy: Unusual Breakout Story amid Generally Subdued Market
Before the Covid-19 pandemic, Etsy was growing nicely by connecting craft makers with customers looking for something a bit more out of the ordinary than mainstream e-commerce fare.