Top Republican Says Bondholders Must Come First

House Budget Chair Jodey Arrington (R-TX) told Punchbowl News that the U.S. Constitution requires the country to keep paying its bondholders even if the U.S. breaches the debt ceiling, thanks to a clause in the 14th amendment that says the federal debt “shall not be questioned.”

That would mean the government would need to prioritize interest payments to bondholders over other spending.