to solve the debt ceiling dilemma. Some Democrats want to use this amendment to declare the debt ceiling itself unconstitutional. Treasury Secretary Janet Yellen would not say that this option is off the table, but she has stated that using the 14th Amendment could lead to a constitutional crisis.
" Some legal scholars believe that this overrides statutory borrowing limits, such as the debt limit. President Biden plans to meet on Tuesday with leaders in the House and Senate to discuss the debt ceiling and spending.: "Our priority is to make sure that Congress does its job," Yellen said."There is no way to protect our financial system in our economy other than Congress doing its job and raising the debt ceiling and enabling us to pay our bills.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Biden says not yet ready to invoke 14th Amendment to avoid debt defaultPresident Joe Biden said on Friday he was not yet ready to invoke the 14th Amendment to avoid the United States defaulting on its debts as early as June 1, comments which for the first time suggested he has not ruled out the option. 'I've not gotten there yet,' Biden said in an interview with MSNBC when asked about the possibility of invoking the amendment. The divided U.S. Congress is running out of time to raise the federal government's $31.4 trillion debt ceiling, with the Treasury Department warning it could be unable to pay its bills as soon as June 1.
Source: YahooNews - 🏆 380. / 59 Read more »
Yellen says using 14th Amendment to scrap debt limit would cause a 'constitutional crisis'Treasury Secretary Janet Yellen repeatedly declined to rule out the possibility of declaring the debt ceiling unconstitutional if Congress fails to resolve its standoff, but said doing so would be a 'not-good' option.
Source: dcexaminer - 🏆 6. / 94 Read more »
Treasury Secretary Janet Yellen dodges question on invoking 14th Amendment to avoid defaultTreasury Secretary Janet Yellen dodged questions Sunday about whether the Biden administration is considering invoking the 14th Amendment to avoid default if Congress fails to lift the debt ceiling.
Source: WashTimes - 🏆 235. / 63 Read more »