All debts contracted and engagements entered into before the adoption of this Constitution II shall be as valid against the United States under this Constitution II as under the 1787 Constitution.
The notion of a “national debt ceiling” has no meaning or merit whatsoever. When Congress legislates expenditures from the United States Treasury and the Treasury borrows money to make those expenditures, then the resulting debts are a sovereign debt of this nation and must be repaid.
This Constitution II and the laws of the United States which shall be made in pursuance thereof and all treaties made or which shall be made under the authority of the United States shall be the supreme law of the land; and the judges in every state shall be bound thereby, anything in the constitution or laws of any state to the contrary notwithstanding.
The Senators and Representatives before mentioned, and the members of the several state legislatures, and all executive and judicial officers, both of the United States and of the several states, shall be bound by oath or affirmation, to support this Constitution II; but no religious test shall ever be required as a qualification to any office or public trust under the United States.
 The 1787 Constitution contained basically the same idea in the first paragraph of Article VI, but in that case it referred to the validity of debts of the United States entered into under the Articles of Confederation.
 This provision simply makes it clear that, when the United States borrows money, the debt must be repaid.