Democratic lawmakers are urging President Joe Biden to utilize his constitutional authority under the 14th Amendment to address the nation’s debt limit without requiring the approval of Congress. The 14th Amendment, well-known for its emphasis on equal protection under the law, has been invoked in several landmark cases throughout history. Legal scholars argue that a clause in this amendment, which states that the “validity of the public debt, authorized by law … shall not be questioned,” could potentially be applied to the debt limit issue.
Supporters of invoking the 14th Amendment argue that it would allow the Treasury Department to continue borrowing money beyond the debt limit, thereby preventing a default on the nation’s financial obligations. Among those in favor of this approach are members of the Congressional Progressive Caucus, including Pramila Jayapal, Ilhan Omar, and Greg Casar. They argue that resorting to such measures would set a crucial precedent and discourage future instances of partisan hostage-taking. Representatives Alexandria Ocasio-Cortez and Jamie Raskin also support the idea, with Raskin emphasizing that Biden has a clear constitutional mandate to bypass Congress if necessary to prevent a default. Jim Clyburn further urges Biden to use the 14th Amendment should the House fail to act on the matter.
In the Senate, at least 11 Democrats, including Tina Smith, Bernie Sanders, Ed Markey, Jeff Merkley, and Elizabeth Warren, have signed a letter urging President Biden to utilize his constitutional authority. They emphasize that using this power would ensure the timely payment of bills, preventing a global economic catastrophe.
However, it appears unlikely that Biden will invoke the 14th Amendment. White House officials have privately expressed reservations, believing that it is not a viable strategy for resolving the debt negotiations. While acknowledging Biden’s potential legal authority to act, they argue that the risks of jeopardizing negotiations with Congress and damaging the world’s faith in U.S. creditworthiness outweigh the benefits.
The White House negotiators are instead pushing for an agreement that would raise the debt ceiling until 2025 and impose spending caps for a period as short as two years. They are opting for a more traditional route, engaging in negotiations and seeking a compromise with Congress.
While the idea of utilizing the 14th Amendment to raise the debt limit may hold some merit, the potential risks associated with this approach cannot be overlooked. The United States’ credibility in global financial markets is of utmost importance, and any action that may damage this reputation should be approached with caution. While it is crucial to explore all available options, the focus should remain on constructive negotiations between the executive and legislative branches to find a solution that averts a default and ensures responsible fiscal management.
It is also worth considering the long-term implications of invoking the 14th Amendment in this context. While it may provide a temporary fix, it does not address the fundamental issues surrounding the nation’s debt and fiscal responsibility. A sustainable solution requires a comprehensive examination of spending, revenue, and fiscal policies to ensure the nation’s long-term economic stability.
In conclusion, although the 14th Amendment presents a legal avenue for addressing the debt limit, it appears unlikely that President Biden will choose to invoke it. While the concept has gained support among some lawmakers, the risks involved and the preference for a negotiated solution suggest that alternative approaches will be pursued. It is crucial for all parties involved to prioritize the nation’s financial stability and work towards a fiscally responsible resolution.
