A standoff between Home Republicans and President Biden over elevating the nation’s borrowing restrict has administration officers debating what to do if the federal government runs out of money to pay its payments, together with one possibility that earlier administrations had deemed unthinkable.
That possibility is successfully a constitutional problem to the debt restrict. Below the idea, the federal government could be required by the 14th Modification to proceed issuing new debt to pay bondholders, Social Safety…
