Following up on our earlier posts about the president’s apparent desire to default on the US Treasury notes held by the Social Security Administration, two points …
First, most of President Bush’s personal wealth appears to be tied up in bonds. Do his get honored? Or is he out of luck too?
Second, what the president said today almost certainly violates his oath of office in which he swears to “preserve, protect, and defend the Constitution of the United States.”
That would be the Constitution which reads (Am.XIV, Section 4): “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.”
