Law Professor: Treasury Sec. Will Break Law If He Ignores Congress on Debt Ceiling
October 11, 2013
Contact: University Relations
University of Baltimore School of Law Professor Garrett Epps tells the New York Post that U.S. Treasury Secretary Jack Lew will be in violation of the Second Liberty Bond Act of 1917 if he ignores Congress and pays the nation's creditors beyond the debt ceiling, which the country is expected to hit in the next several days. But if doesn't act, other consequences will occur.
"If he didn't pay the debt, he'd be breaking the 14th amendment," Epps said. "And he'd be violating any number of laws directing him to pay the debt. Anybody having claims against the U.S. would be able to sue the U.S."
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Learn more about Prof. Epps.