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.
Agreeing that a debt exists and agreeing to pay back a debt are two different things. The budget doesn’t argue whether the debt exists, just how and when it will be payed back. It is the difference between “Yes, I owe you $100, you’ll get it back someday.”, and “Yes, I owe you $100, and I’ve budgeted to pay you $20 a week for the next 5 week until we’re square.”
The consitution guarantees the first part, but doesn’t help much with the second. However, without the second part everything grinds to a halt.
Fourteenth Amendment, Section 4:
Your turn, explain how I’m wrong.
Agreeing that a debt exists and agreeing to pay back a debt are two different things. The budget doesn’t argue whether the debt exists, just how and when it will be payed back. It is the difference between “Yes, I owe you $100, you’ll get it back someday.”, and “Yes, I owe you $100, and I’ve budgeted to pay you $20 a week for the next 5 week until we’re square.”
The consitution guarantees the first part, but doesn’t help much with the second. However, without the second part everything grinds to a halt.