{"id":573659,"date":"2023-05-09T00:01:18","date_gmt":"2023-05-08T21:01:18","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/14th-amendment-talk-on-debt-limit-viewed-with-extreme-caution-by-team-biden\/"},"modified":"2023-05-09T00:01:18","modified_gmt":"2023-05-08T21:01:18","slug":"14th-amendment-talk-on-debt-limit-viewed-with-extreme-caution-by-team-biden","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/14th-amendment-talk-on-debt-limit-viewed-with-extreme-caution-by-team-biden\/","title":{"rendered":"#14th Amendment talk on debt limit viewed with extreme caution by Team Biden"},"content":{"rendered":"<div>\n<p>President Biden and his team are <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roaching 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.<\/p>\n<p>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.<\/p>\n<aside class=\"ad-unit ad-unit--mr1_ab\"><\/aside>\n<p>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.<\/p>\n<p>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 \u201cshall not be questioned.\u201d<\/p>\n<p>The idea of using that language to allow Biden to unilaterally continue to issue debt has reportedly been floated privately within the administration.<\/p>\n<p>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.<\/p>\n<p>\u201cThere 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,\u201d Yellen said on ABC. \u201cAnd 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.\u201d<\/p>\n<p>Yellen would not explicitly say the idea was not being considered but described it as \u201cone of the not good options\u201d if Congress fails to act.<\/p>\n<aside class=\"ad-unit ad-unit--mr2_ab\"><\/aside>\n<p><strong>More from The Hill:<\/strong> Yellen calls invoking 14th Amendment a \u2018constitutional crisis\u2019<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1400\" height=\"787\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?w=900\" alt=\"\" class=\"wp-image-3973067\" srcset=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg 1400w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=160,90 160w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=300,169 300w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=768,432 768w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=1280,720 1280w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=645,363 645w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=320,180 320w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=256,144 256w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=512,288 512w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=640,360 640w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=876,492 876w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=960,540 960w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/04\/yellen_janet_china_04202023_AP_AP23110549915052.jpg?resize=50,28 50w\" sizes=\"auto, (max-width: 899px) 100vw, 876px\"><figcaption class=\"wp-element-caption\"><em>Treasury Secretary Janet Yellen speaks April 20 at Johns Hopkins University School of Advanced International Studies in Washington. AP Photo\/Manuel Balce Ceneta<\/em><\/figcaption><\/figure>\n<p>Biden was asked in an MSNBC interview last Friday about using the 14th Amendment and said, \u201cI\u2019ve not gotten there yet.\u201d<\/p>\n<p>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 \u201cirresponsible.\u201d<\/p>\n<aside class=\"ad-unit ad-unit--mr3_ab\"><\/aside>\n<p>Talk of whether the debt limit is constitutional under the 14th Amendment \u2014 which <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/general\/\" data-internallinksmanager029f6b8e52c=\"3\" title=\"General\" target=\"_blank\" rel=\"noopener\">general<\/a>ly deals with citizenship and was added to the Constitution after the Civil War \u2014 \u00a0has heated up inside the Beltway as concerns that the U.S. could default grow increasingly urgent.<\/p>\n<p>Yellen has warned lawmakers the U.S. could breach the debt limit by early June, meaning the country would default if Congress does not act. A default would lead to increased interest rates, the potential loss of jobs, a likely drop in the stock market and delayed <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Social<\/a> Security payments, among other consequences.<\/p>\n<p><strong>More from The Hill:<\/strong> Yellen says drop-dead date for debt ceiling is June 1<\/p>\n<aside class=\"ad-unit ad-unit--mr4_ab\"><\/aside>\n<p>There are some administration allies who see the 14th Amendment as a potential way out of an impending crisis should Congress fail to act, but one that is not without its own consequences.<\/p>\n<p>Mark Zandi, the chief economist at Moody\u2019s Analytics who is often cited by Biden administration officials, told senators in March that a 14th Amendment declaration \u201cseems the most viable option\u201d if the nation is about to breach the debt limit.<\/p>\n<p>\u201cInvestors would rightly wonder if using the 14th Amendment to abrogate the debt limit law would stand up in the courts, and even if so, what it means for our political system\u2019s checks and balances. Given the constitutional crisis this would set off, financial markets would still be roiled, and a recession would ensue,\u201d Zandi said in testimony before a Senate subcommittee on economic policy.<\/p>\n<aside class=\"ad-unit ad-unit--mr5_ab\"><\/aside>\n<p>Administration officials are likely to be particularly sensitive about discussing a way to work around Congress entirely ahead of Tuesday\u2019s meeting among Biden, Speaker Kevin McCarthy (R-Calif.), House Minority Leader Hakeem Jeffries (D-N.Y.), Senate Majority Leader Charles Schumer (D-N.Y.) and Senate Minority Leader Mitch McConnell (R-Ky.).<\/p>\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" loading=\"lazy\" width=\"1400\" height=\"787\" src=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?w=900\" alt=\"\" class=\"wp-image-3897024\" srcset=\"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg 1400w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=160,90 160w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=300,169 300w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=768,432 768w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=1280,720 1280w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=645,363 645w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=320,180 320w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=256,144 256w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=512,288 512w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=640,360 640w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=876,492 876w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=960,540 960w, https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/03\/McCarthyJeffries_010623_AP_Andrew-Harnik.jpg?resize=50,28 50w\" sizes=\"auto, (max-width: 899px) 100vw, 876px\"><figcaption class=\"wp-element-caption\"><em>House Speaker Kevin McCarthy (R-Calif.) receives the gavel from House Minority Leader Hakeem Jeffries (D-N.Y.) on Jan. 7 at the U.S. Capitol in Washington. AP Photo\/Andrew Harnik<\/em><\/figcaption><\/figure>\n<p>For Biden to invoke the power would almost certainly spark litigation, but the debt ceiling itself is now also facing a legal challenge.<\/p>\n<p>A lawsuit from the National Association of Government Employees contends the debt ceiling is unconstitutional because if the limit is reached, Yellen would be forced to decide which payments to prioritize, violating the separation of powers by taking over Congress\u2019s spending authority.<\/p>\n<aside class=\"ad-unit ad-unit--mr6_ab\"><\/aside>\n<p>The White House on Tuesday declined to comment on the lawsuit.<\/p>\n<p><strong>More from The Hill:<\/strong> Government employees union sues Yellen, Biden over \u2018unconstitutional\u2019 debt limit law<\/p>\n<p>While some legal scholars have promoted the 14th Amendment as a way to sidestep the debt ceiling, many caution such a move may not be legal.<\/p>\n<aside class=\"ad-unit ad-unit--mr7_ab\"><\/aside>\n<p>Anita Krishnakumar, a professor at Georgetown Law, said the Constitution under Article 1 gives Congress the power to pay debts and \u201cborrow money on the credit of the United States.\u201d<\/p>\n<p>In 1917 Congress refined that process, giving the Treasury secretary the power to borrow money up to a certain amount without\u00a0lawmakers\u2019\u00a0approval, but the authority to borrow money still rests with Congress itself, she said.\u00a0<\/p>\n<p>\u201cJust because we think it would violate the public debt clause not to pay the interest on our loan applications, for example, doesn\u2019t mean that you can violate another provision of the Constitution in order to do that,\u201d Krishnakumar said.<\/p>\n<p>\u201cIf and when the Congress in some kind of political <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/game\/\" data-internallinksmanager029f6b8e52c=\"7\" title=\"Game\" target=\"_blank\" rel=\"noopener\">game<\/a>smanship decides not to increase the debt unless it gets some concessions from the president \u2014 and that act could cause us potentially to not pay our public debt \u2014 I don\u2019t think that threat means that you can just ignore Article 1 Section 8, which gives Congress the power to borrow money.\u201d<\/p>\n<p>As battles over the debt ceiling become a more frequent occurrence, however, some who previously shot down the 14th Amendment prospect are now embracing it.<\/p>\n<p>Harvard Law professor Laurence Tribe previously opposed the idea, but he said while overarching issues remain, \u201cthey are the wrong ones for us to be asking.\u201d<\/p>\n<p>\u201cThe right question is whether Congress \u2014 after passing the spending bills that created these debts in the first place \u2014 can invoke an arbitrary dollar limit to force the president and his administration to do its bidding,\u201d he wrote in an <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2023\/05\/07\/opinion\/debt-limit.html\">op-ed in The New York Times<\/a>.\u00a0<\/p>\n<p>\u201cThe president should remind Congress and the nation, \u2018I\u2019m bound by my oath to preserve and protect the Constitution to prevent the country from defaulting on its debts for the first time in our entire history.\u2019\u201d\u00a0<\/p>\n<\/div>\n<p>Copyright 2023 Nexstar Media Inc. 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Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/thehill.com\/homenews\/administration\/3994500-14th-amendment-talk-on-debt-limit-viewed-with-extreme-caution-by-team-biden\/\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>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&#8230;<\/p>\n","protected":false},"author":1,"featured_media":573660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/thehill.com\/wp-content\/uploads\/sites\/2\/2023\/05\/bidenjoe_050823gn02_w.jpg?w=1280","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[81188,142964,139252,116734,138150,134661,87077,73014,90482,991,35813,134345,4965],"class_list":["post-573659","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-janet-yellen","tag-14th-amendment","tag-business-economy","tag-debt-ceiling","tag-debt-limit","tag-energy-environment","tag-hakeem-jeffries","tag-health-care","tag-house","tag-joe-biden","tag-kevin-mccarthy","tag-state-watch","tag-technology"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/573659","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=573659"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/573659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/573660"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=573659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=573659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=573659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}