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6 Jun 2023, 9:01 pm by Neil H. Buchanan and Michael C. Dorf
In short order over the last two weeks, the latest debt ceiling crisis was defused, the date of the next crisis was all but set in stone, and the political class quickly moved on to “previously scheduled programming”—that is, to the many ongoing crises that the debt ceiling standoff had pushed off the front pages for more than a month.Hindsight bias may leave the impression that this result was foreordained, but it was not. [read post]
22 May 2023, 9:01 pm by Neil H. Buchanan
If we reach the point where the debt ceiling becomes binding, possibly as soon as next week, President Joe Biden will have exactly two options: (1) Continue to pay the nation’s bills, or (2) Fail to pay the nation’s bills for the first time ever. [read post]
21 May 2023, 9:00 pm by Neil H. Buchanan and Michael C. Dorf
As the country and the world await news of whether Republicans’ decision to use the debt ceiling as a political weapon will lead to utter catastrophe, pundits and reporters alike are asking whether there is an out that would allow the Democrats to sidestep the Republicans’ attempted extortion.The question is: “out” from what, exactly? [read post]
17 May 2023, 9:02 pm by Neil H. Buchanan
” Professor Michael McConnell’s name is on that piece, but I confess that I am almost tempted to think that it was written by ChatGPT, because there were only a few points in the piece in which it was possible to discern any attempt at an argument, and more importantly, at no point did the piece address the actual Buchanan-Dorf arguments that Tribe summarized.I should note that maybe-McConnell did not even read Tribe’s piece, much less anything by Dorf and/or… [read post]
16 May 2023, 9:01 pm by Neil H. Buchanan and Michael C. Dorf
Even that, however, would not help Republicans.Let us imagine that the White House follows the Buchanan-Dorf plan and tells the Treasury to keep calm and carry on. [read post]
15 May 2023, 8:00 am by JB
 It was also, for a brief period of time, a Type Two crisis as well, because then-president James Buchanan took the position that although secession was illegal, there wasn't anything he could do to stop it. [read post]
9 May 2023, 1:01 am by rhapsodyinbooks
Harriet Lane via Wikipedias She lost her mother and father at an early age, and requested that her favorite uncle, James Buchanan, be appointed her legal guardian. [read post]
8 May 2023, 9:01 pm by Neil H. Buchanan and Michael C. Dorf
When one of the current authors (Buchanan) used to teach economics courses at the university level, consols were a favorite hypothetical financial instrument, because the arithmetic for determining their value is shockingly simple. [read post]
1 May 2023, 9:01 pm by Neil H. Buchanan and Michael C. Dorf
Each day that passes without enactment of legislation raising or suspending the debt ceiling brings the United States and thus the global economy closer to disaster. [read post]
28 Apr 2023, 5:56 am
James Buchanan recognized that governing arrangements were certified by a constitutional moment. [read post]
28 Apr 2023, 5:56 am by Christine Corcos
James Buchanan recognized that governing arrangements were certified by a constitutional moment. [read post]
27 Apr 2023, 9:01 pm by Neil H. Buchanan
The media mini-frenzy that followed an incident at Stanford Law School last month seems to have mostly died down. [read post]
19 Apr 2023, 9:01 pm by Neil H. Buchanan
Last week on Verdict, I wrote a column in which I debunked what has quickly become the dominant narrative about a recent controversy at Stanford Law School. [read post]
16 Apr 2023, 9:01 pm by Neil H. Buchanan and Michael C. Dorf
Writing separately, we have suggested that a platinum coin that was deposited with the Fed would count as “debt” and thus would not even achieve the goal of keeping the US below the ceiling (Buchanan) and that advocates’ overly broad reading of the Coinage Act is likely a violation of the reasonableness requirement for agency interpretations that aim to fill statutory gaps (Dorf). [read post]
12 Apr 2023, 9:01 pm by Neil H. Buchanan
For those of us who live our lives in the field of higher education, events that seem internal to our world sometimes unexpectedly burst into public view. [read post]
28 Mar 2023, 7:38 am by Neil H. Buchanan
  My recollection of James Bond movies is hardly perfect, but I have the distinct sense of having watched multiple films in which the villain swirls an expensive brandy while telling our hero that "we're the same, you and me, Mr. [read post]