Tag Archives: Debt Ceiling
Money, Law, and Other Noble Lies

Cornell Law professor Michael C. Dorf critiques the suggestion that the Treasury might instruct the Mint to create high-value platinum coins to pay federal obligations and avert a debt ceiling crisis. Professor Dorf argues that such action risks eroding public confidence in the very idea that money has value. He recognizes that in a democracy, government should generally trust the People with the truth but says there is sometimes a need to promote a “noble lie” for the good of society.

Only the Most Extreme Debt Ceiling Insanity Could Turn the ‘Big Coin Option’ into the Least-Bad Choice: So, Be Prepared!

UF Levin College of Law professor and economist Neil H. Buchanan responds to proposals that the so-called Big Coin option could alleviate the debt ceiling crisis. Professor Buchanan argues that this option, by which the Treasury would mint a platinum coin and designate its value at some arbitrarily high number to allow the government to continue paying its bills, is likely not the best solution to the contrived problem of debt ceiling.

The “Americans Are Not Deadbeats Act”: Republicans Have Given Democrats a Gilded Political Path to Killing the Debt Ceiling

UF Levin College of Law professor and economist Neil H. Buchanan argues that Democrats have a clear path to eliminating the debt ceiling crisis once and for all. Professor Buchanan explains that the Democrats should employ the so-called Gephardt Rule, under which the debt ceiling is increased automatically as part of every taxing and spending bill that Congress passes.

The Worst Sequel of 2021: “Debt Ceiling Zombies Attack!”

UF Levin College of Law professor and economist Neil H. Buchanan comments on the (again) impending debt ceiling crisis if Senate Republicans (again) do not adjust the federal debt ceiling by the end of this month. Professor Buchanan reiterates the reasons the debt ceiling is unconstitutional and calls upon President Biden to instruct the Treasury Department to pay all bills in full, using exactly as much borrowed money as Congress’s duly enacted laws require, and to immediately announce that he will do so.

The Intensifying Madness on America’s Political Right: A Decade-Long Perspective

UF Levin College of Law professor Neil H. Buchanan reflects on the evolution of America’s political right over the past decade, from his first Verdict column almost exactly ten years ago to today. Professor Buchanan points out that his first column discussed the problem of the debt-limit crisis, which he argues was a portent for Republicans’ abandonment of ideas, now turning instead to stoking cultural clashes and fomenting grievances.

Will Biden Finally Neuter Republicans’ Debt Ceiling Demagoguery?

UF Levin College of Law professor and economist Neil H. Buchanan responds to apparent plans by some Republicans to bring back the debt ceiling to obstruct the Biden administration. Professor Buchanan explains why that would be a bad idea and also why, if they do, President Biden might be able to kill the debt ceiling as a political issue.

Another Excuse for Possible Constitutional Overreach by Trump

George Washington law professor and economist Neil H. Buchanan explores how President-elect Donald Trump could seize upon, or even create, a debt ceiling crisis as a way to enhance his executive powers. Buchanan explains that Trump could put himself into a “trilemma” on purpose, giving himself no choice but to pick and choose which of the government’s debts he would pay and which he would not.

I Might Actually Agree With Trump About Something, Someday, Maybe

George Washington law professor and economist Neil H. Buchanan explains how and why House Republicans might put President-elect Donald Trump in a debt ceiling crisis, just as they did to President Obama. Buchanan points out that Trump might rightfully choose to ignore the debt ceiling law, which Buchanan argues is unconstitutional anyway.

Trump Finds a Way to Be Just a Bit More Unhinged than the Republican Establishment Is About the Federal Debt

George Washington law professor and economist Neil H. Buchanan explains how Donald Trump’s recent comments about the federal debt reveal that he is even more irresponsible—though only slightly—than the Republican establishment on this issue. Buchanan describes the problems with repudiating the debt as Trump suggests the government do.

Who Is Looking for the Easy Way Out Regarding the Debt Ceiling?

George Washington law professor and economist Neil H. Buchanan describes the easiest solution to the debt ceiling crisis: for House Republicans to repeal or increase the debt ceiling rather than using it for opportunistic purposes. Buchanan then goes on to explain what the president should do to avoid financial crisis even if House Republicans do not provide this solution.

Meet our Columnists
Vikram David Amar
Vikram David Amar

Vikram David Amar is the Dean and Iwan Foundation Professor of Law at the University of Illinois... more

Neil H. Buchanan
Neil H. Buchanan

Neil H. Buchanan, an economist and legal scholar, holds the James J. Freeland Eminent Scholar... more

Sherry F. Colb
Sherry F. Colb

Sherry F. Colb is the C.S. Wong Professor of Law at Cornell University. Colb teaches courses in... more

John Dean
John Dean

John Dean served as Counsel to the President of the United States from July 1970 to April 1973.... more

Michael C. Dorf
Michael C. Dorf

Michael C. Dorf is the Robert S. Stevens Professor of Law at Cornell University Law School. He... more

Samuel Estreicher
Samuel Estreicher

Samuel Estreicher is the Dwight D. Opperman Professor, Director, Center for Labor and Employment... more

Leslie C. Griffin
Leslie C. Griffin

Dr. Leslie C. Griffin is the William S. Boyd Professor of Law at the University of Nevada, Las... more

Joanna L. Grossman
Joanna L. Grossman

Joanna L. Grossman is the Ellen K. Solender Endowed Chair in Women and Law at SMU Dedman School... more

Marci A. Hamilton
Marci A. Hamilton

MARCI A. HAMILTON is the Fels Institute of Government Professor of Practice, and Fox Family... more

Joseph Margulies
Joseph Margulies

Mr. Margulies is a Professor of Law and Government at Cornell University. He was Counsel of... more

Austin Sarat
Austin Sarat

Austin Sarat is the William Nelson Cromwell Professor of Jurisprudence and Political Science at... more

Lesley Wexler
Lesley Wexler

Lesley Wexler is a Professor of Law at the University of Illinois College of Law. Immediately... more