Debt ceiling talks and the dangerous debate over the 14th Amendment.

1 min read
Source: NBC News
Debt ceiling talks and the dangerous debate over the 14th Amendment.
Photo: NBC News
TL;DR Summary

Senator Chris Murphy opposes President Joe Biden using the 14th Amendment to unilaterally avert a debt default, stating that it would absolve Congress from being adults. Biden is considering the 14th Amendment option to bypass the ongoing stalemate in Congress over raising the debt ceiling, but regards it as a problematic, untested legal theory. Treasury Secretary Janet Yellen has warned that if Congress doesn't act in time, the US could start defaulting on its debts as early as June 1. House Republicans have been pushing to attach spending cuts to a debt ceiling increase, while Democrats are reluctant to negotiate over whether to pay the country’s bills or default and have insisted on a clean debt limit hike.

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