Pres Truman signed exec order invoking 14th Amendment after Congress was unable to pass bill ....

President Truman signed executive order invoking 14th Amendment after Congress was unable to pass bill to raise debt ceiling
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SNIP

Clyburn, the third-ranking House Democrat, said Wednesday that if the president is delivered a bill to raise the debt ceiling for only a short period of time, he should instead veto it and turn to the phrase in the Constitution that says the validity of the U.S. government’s debt “shall not be questioned.”

“If that’s what lands on his desk, a short-term lifting of the ceiling, the debt ceiling, he should put it on his desk next to an executive order,” Clyburn said at a press conference. “He should sign an executive order invoking the 14th Amendment to this issue.” The Associated Press reported that he was applauded when he suggested the idea at a caucus meeting earlier in the day.

“I believe that something like this will bring calm to the American people and will bring needed stability to our financial markets,” Clyburn added, noting that President Harry Truman did it once during his presidency after Congress was unable to pass a bill to raise the debt ceiling.

SNIP

Full article here: http://www.politico.com/news/stories/0711/60038.html

for 14th Amendment (and the Harry Truman just brought up references to it, like Clyburn's statement) that I gave up. So I'm not sure if it's accurate or not.

as a source?

clyburn was wrong.

That said... IT IS precedent...

I still wonder if he will have the backbone though.

Is he mixing that up with Truman seizing the steel mills during the Korean War? That's the first I have heard of Truman having ever done that.

for desegregation.

It was the 14th, but not for the debt ceiling. Truman never raised it.

I could make the argument though that it is precedent... weak, but it is.

http://www.politifact.com/new-jersey/statements/2011/jul/21/richard-codey/new-jersey-sen-richard-codey-claims-every-presiden/

<snip>

Soon after the debt limit was increased to $300 billion in April 1945, Truman became president. The debt ceiling was reduced to $275 billion in June 1946, and the Korean War was primarily financed by higher taxes, not increased debt.

The debt ceiling would not increase until 1954, when Dwight D. Eisenhower was president.

<snip>

"PolitiFact New Jersey took a look at the nation’s history of borrowing money and discovered that Codey was mostly right. Since an overall limit on most federal debt was first set up in 1939, the debt ceiling went up during every presidency with the sole exception of former President Harry S. Truman’s.

Codey acknowledged the minor oversight in a phone interview and said his overall message was to show that previous presidents have contributed to the debt ceiling increases."


http://www.politifact.com/new-jersey/statements/2011/jul/21/richard-codey/new-jersey-sen-richard-codey-claims-every-presiden/