This article from the Atlantic is being linked to and blogged quite a bit. It is a mock speech by President Obama, in which he uses his constitutional executive powers to order the treasury to create debt instruments in order to satisfy the debt of the United States.
It is being touted as an instrument to force the raising of the debt ceiling, which in turn is being used as a WMD.
The article cites the Article 4 of the 14th Amendment of the Constitution of the United States. The full article reads as follows:
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.
Seems pretty clear to me. All that is needed is a full accounting from the pentagon as to exactly how much of our national debt is owed due to "bounties" paid to the Military Industrial Complex. Specifically, for "insurrection" or "rebelion". The question is of course if you interpret these acts of violence as acts by the peoples of America, or of peoples from outside our borders. Does the 'threat' of terror count towards this as well?
Regardless of what side of that debate the decison falls, I believe the taxpayers and debtholders of the United States would be horrified to see just how staggering the number is and what percentage of our national debt it entails.
Perhaps this very passage from the constitution is why the Department of Homeland Security was created in the first place, and why we must "See Something and Say Somthing" to protect our 'homeland' from Lone Wolf attacks.
Hard to argue 'homeland security' isn't intended to supress insurrection and rebellion. But we certainly deserve to know how big our credit card bill is for these 'services', and if we feel we're getting a good deal.