Memo to Trump: U.S. Debt 'Shall Not Be Questioned'

Donald Trump got into hot water last week for suggesting that the U.S. could effectively repudiate some of its debt, offering to give the holders of its securities something less than what they are owed. The presumptive Republican nominee eventually backpedaled, claiming that the U.S. would “never have to default because you print the money."

In Trump’s defense, similar ideas have been floated by serious politicians before and even by Democrats. Unfortunately for him, however, the last genuine debate on this question, immediately after the Civil War, ended with a change to the Constitution meant to settle the question forever. (Although the question did arise in 2011 and 2013 when Republicans threatened to refuse to raise the debt ceiling, the legal argument wasn’t put to the test.)