Lets look at the text of section 4 of the 14th Amendment:
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. But neither the United States nor any State shall assume or pay any debt or obligation incurred in aid of insurrection or rebellion against the United States, or any claim for the loss or emancipation of any slave; but all such debts, obligations and claims shall be held illegal and void.
According to the text above which is literally the law of the land, in all situations the debt incurred by the United States has to be paid. Even though the government is shut down, there are still all kinds of taxes being paid and the United States Treasury is taking in billions of dollars. The money coming in is more than enough to service all the debt each month. Because of the 14th Amendment, this has to occur before the money is used for any other government programs. So, while going this route will definitely have negative effects on government agencies and federal programs, there cannot be a default on the debt.
The only way a default could occur is if President Obama illegally orders the Treasury Department not to service the debt. I’m sure that if this happened it would be a complete catastrophe that would have untold effects on the global economy and would shatter the good faith and credit of the United States. It would mean that even though the money was available, the government of the United States intentionally and knowingly chose not to pay the debt it owed. Considering the monotone hysteria of both the domestic and international media, this could also probably be done with the average person still thinking the government shutdown was the cause. So, everything comes down to the true priorities of President Obama. If he does his job as dictated by the Constitution, no default can occur. If he instead acts as a communist revolutionary, he will have struck a major blow against the financial dominance of the dollar and the American economic system.
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