Best case IMO is that the deadline passes, Biden picks one method or another to pay for the already-budgeted-by-Congress spending anyway, that's affirmed as OK by the courts, and I get to never hear the words "debt ceiling" ever again.
Sure, there's a chance the "original intent" contingent says it's limited only to gov pensions and military. In that case go with the $1T platinum coin. There's also some option for the Fed to buy treasuries maturing during that period.
I think that they rule based on their political preferences and come up with post hoc rationalizations afterward. Therefore, it doesn’t really matter which method is chosen.
Oh, it's definitely an "... and also, I want a pony!" kind of wish.
Yep. Shut down these silly games of chicken.
Which methods have been affirmed by the courts? Congress controls the budget/purse by constitution right? I heard somewhere that the tech doesn't even exist to prioritize spending beyond a pure FIFO spending approach.
I think they are saying they would like to have the debt limit as a concept taken to court by Biden ignoring it. The debt limit itself is not explicitly in the constitution.
I believe they meant that they wish whatever method Biden chooses is affirmed by the courts when the eventual case challenging it comes. Some believe the debt limit is unconstitutional due to the 14th amendment which states, "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." I think it is a shaky argument, but I'm not a constitutional lawyer or any other kind of lawyer.