Justia columnist, George Washington law professor, and economist Neil Buchanan suggests how, in the future, we can ensure that the debt limit is not, once again, used as a political weapon. He discusses three key solutions: (1) simply eliminating the debt limit via a presidential directive incorporating a Fourteenth Amendment analysis, as The New York Times suggested; (2) and following one of Yale Law professor Jack Balkin’s two suggestions, which are nicknamed “Big Coin” and “Exploding Option.” Buchanan provides background to ensure that readers fully understand each suggestion, and points out a downside to Balkin’s ideas: the public’s confidence in money and the monetary system may turn out to be fragile, if the system is experimented with.
Justia columnist, George Washington law professor, and economist Neil Buchanan continues his commentary on the debt-limit crisis and its resolution. Buchanan contends that there is little to applaud in the resolution of the crisis—for, he says, we have now embarked on a path that will only make a sick economy much sicker, and could even push the country back into recession. In light of these realities, he argues, we need to ask how we got here: How did we reach the point where both parties became committed to an economic strategy that is so detached from reality? Buchanan stresses, especially, that America should have focused on unemployment, not spending reductions.
Justia columnist and U. Washington law professor Anita Ramasastry provides important background on the United States’ debt ceiling debate, explaining exactly why the United States—unlike other countries—has only one option when the risk of sovereign default looms: self help. Ramasastry first considers how other countries typically handle sovereign default or distress, then covers the reasons why the United States’ situation is very different, and concludes by examining why there has been such a great need for Congress and President Obama to reach a resolution of this issue.
Justia columnist and Cornell law professor Michael Dorf comments on what may happen if the debt-ceiling deal that President Obama announced on Sunday, August 31, is somehow derailed—or if (as is almost certain to be the case) future Presidents face constitutional-law issues that are philosophically similar to the one President Obama may have narrowly avoided here. In discussing the debt-ceiling issue and its constitutional dimensions, Dorf describes the trilemma the President may face; raises the question whether the constitutionality of a measure must be an either/or proposition or if there are intermediate options of a measure's being, say, “very unconstitutional” or “a little unconstitutional”; and describes America’s historic hostility to balancing different constitutional values against one another.
Justia columnist and former counsel to the president John W. Dean comments on the Tea Party movement. Dean contends that, far from being a truly new force, the Tea Party’s membership is recognizable as consisting of the very kind of authoritarian conservatives America has often seen in past politics. Drawing on the work of Professor Robert Altemeyer, who devoted much of his career to studying the authoritarian personality, Dean notes the telltale characteristics of authoritarian conservative; argues that each of these signal qualities can be seen clearly in Tea Party movement adherents; and cautions that authoritarians do not tend to do well, over the long haul, in a democracy.
Justia columnist and former counsel to the president John Dean comments on the voicemail hacking scandal surrounding News Corp.’s News of the World, drawing a parallel between the unfolding of this scandal and the unfolding of Watergate. Dean applies the framework sketched out in Cambridge sociologist John B. Thompson’s 2000 work Political Scandal: Power and Visibility in the Media Age to predict what will happen next to Rupert Murdoch, the Chair and CEO of News Corp.
Justia columnist, George Washington law professor, and economist Neil Buchanan responds to a recent New York Times editorial by Laurence Tribe regarding the constitutionality of the federal government's debt ceiling. Tribe contended that the limit is constitutional; Buchanan contends that it is not. In his column, Buchanan summarizes and responds to Tribe's arguments regarding the key constitutional provision at issue, the Public Debt Clause.
Justia columnist, George Washington University law professor, and economist Neil H. Buchanan comments on the current situation regarding the federal debt limit, considers how it could be resolved, and notes that President Obama could take a constitutional stand in order to resolve the impasse. Buchanan begins by explaining for readers what the debt limit is and why it is important now; explains why the debt-limit law that set the ceiling was never necessary in the first place; describes the potentially very grave consequences of passing the debt-limit ceiling with that law in place, as it is now; and contends that our current game of political “chicken” regarding the debt limit is dangerous indeed. He then describes a possible constitutional solution that President Obama could opt for, based on arguments that the debt limit is illegitimate and void as a matter of constitutional law. Finally, Buchanan explains why, even if the debt limit were to be removed from the picture, an underlying, related problem with the political process would still remain.
Justia columnist and former counsel to the president John Dean comments on the second trial of former Illinois Governor Rod Blagojevich, on charges related to a number of instances of political corruption – one of which, perhaps most famously, relates to filling then-President-elect Obama’s open Senate seat. (Obama himself played no part in the scheme). Dean explains why, in Blagojevich’s first trial, he was convicted on only one count, whereas in this second trial, the jury found him guilty on 17 of 20 counts. Dean also covers the unusual voting system that the jury used during its deliberation and offers telling samples of the recordings that led to the conviction. In addition, he parallels Blagojevich’s defense with Nixon’s, and considers – based on conversations with a number of sentencing experts – what sentence Blagojevich may receive. Finally , Dean concludes that any appeal will likely fail, as the judge who oversaw the trial is seen as too intelligent and able to have erred on the law.