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News Link Economy - Economics USA
Obscure clause may help US avert default
The White House could resort to an little-known line in the US
constitution to prevent a ruinous default if Democrats and Republicans do not agree to raise the debt ceiling by August 2, experts say.
The 143-year-old clause, written
to address still-potent divisions after the bloody Civil War, has been
dredged up by legal scholars as well as the
US Treasury secretary to suggest how a debt debacle might be avoided.
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Tags: resort, little, constitution, prevent, ruinous, default, democrats, republicans, ceiling, august, experts, clause, written, address
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