Cooke said the following:
It’s astonishing and it’s disqualifying. This is a fringe theory, a fringe theory that is designed to strike at the heart of the core part, not a part, the core part of our system of government, which is separation of powers. The first line in the Constitution beyond the preamble assigns to Congress all legislative powers. In the same section Congress is given the power of the purse, which includes borrowing, not just taxing and spending, but the management of debt. This is the American system of government. Now, the 14th Amendment has a provision in there to do with debts incurred in the civil war. It makes no alterations to that core system of government. Everybody knows this. No point in the last hundred and 50 years or so has anyone serious suggested that the 14th Amendment permitted the President of the United States to borrow money without Congress? The idea is absurd.