General Discussion
In reply to the discussion: Professor Tribe has moved to the right position on the 14th Amendment/Debt Ceiling [View all]Celerity
(51,432 posts)Amendment route IF need be, nothing is for sure, all due respect to Prof. Tribe.
14th Amendment talk on debt limit viewed with extreme caution by Team Biden
https://thehill.com/homenews/administration/3994500-14th-amendment-talk-on-debt-limit-viewed-with-extreme-caution-by-team-biden/
President Biden and his team are approaching the prospect of a debt ceiling escape hatch that hinges on the 14th Amendment with extreme caution ahead of a pivotal meeting with congressional leaders at the White House on Tuesday. Some officials have openly voiced concerns about the legal standing of using the 14th Amendment to solve the debt crisis and the potential financial ripple effects of going that route. There is also a desire to avoid undercutting talks with lawmakers on either a short- or long-term deal on the debt ceiling by vowing to go around Congress.
While not entirely ruling it out, Biden and other senior officials are hardly embracing the idea, which revolves around language in the 14th Amendment that says the public debt shall not be questioned. The idea of using that language to allow Biden to unilaterally continue to issue debt has reportedly been floated privately within the administration.
Treasury Secretary Janet Yellen on Sunday, however, said using the 14th Amendment would trigger a constitutional crisis. She argued lawmakers should not let it get to that point. There is no way to protect our financial system and our economy other than Congress doing its job and raising the debt ceiling and enabling us to pay our bills, Yellen said on ABC. And we should not get to the point where we need to consider whether the president can go on issuing debt. This would be a constitutional crisis. Yellen would not explicitly say the idea was not being considered but described it as one of the not good options if Congress fails to act.
Biden was asked in an MSNBC interview last Friday about using the 14th Amendment and said, Ive not gotten there yet. The president has previously expressed opposition to changes to the traditional debt ceiling process. Asked last October about abolishing the debt ceiling entirely, Biden called the idea irresponsible.
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