Frank The Federal Reserve Act of 1913 did not institute the debt limit.Congress created the debt ceiling with the Second Liberty Bond Act of 1917.<a href="https://en.wikipedia.org/wiki/History_of_the_United_States_debt_ceiling" target="_blank">https://en.wikipedia.org/wiki/History_of_the_United_States_debt_ceiling</a>Quote:A statutorily imposed debt ceiling has been in effect since 1917 when the US Congress passed the Second Liberty Bond Act. Before 1917 there was no debt ceiling in force, but there were parliamentary procedural limitations on the amount of debt that could be issued by the government.Except for about a year during 1835–1836, the United States has continuously had a fluctuating public debt since the US Constitution legally went into effect on March 4, 1789. Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly report on the amount of the debt ($75,463,476.52 on January 1, 1791[1]). The national debt, as expressed in absolute dollars, has increased under every presidential administration since Herbert Hoover. End quoteThe issue I am raising is whether any law that creates a debt limit is constitutional.Even laws that are finally adjudged to be unconstitutional are in force until that decision is reached.But first on has to raise the legal issue.

Frank The Federal Reserve Act of 1913 did not institute the debt limit.Congress created the debt ceiling with the Second Liberty Bond Act of 1917.<a href="https://en.wikipedia.org/wiki/History_of_the_United_States_debt_ceiling" target="_blank">https://en.wikipedia.org/wiki/History_of_the_United_States_debt_ceiling</a>Quote:A statutorily imposed debt ceiling has been in effect since 1917 when the US Congress passed the Second Liberty Bond Act. Before 1917 there was no debt ceiling in force, but there were parliamentary procedural limitations on the amount of debt that could be issued by the government.Except for about a year during 1835–1836, the United States has continuously had a fluctuating public debt since the US Constitution legally went into effect on March 4, 1789. Debts incurred during the American Revolutionary War and under the Articles of Confederation led to the first yearly report on the amount of the debt ($75,463,476.52 on January 1, 1791[1]). The national debt, as expressed in absolute dollars, has increased under every presidential administration since Herbert Hoover. End quoteThe issue I am raising is whether any law that creates a debt limit is constitutional.Even laws that are finally adjudged to be unconstitutional are in force until that decision is reached.But first on has to raise the legal issue.

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