President Joe Biden mentioned Sunday that he believes he has the authority to invoke the 14th Modification to resolve the debt-ceiling disaster, however that it could be too late within the sport to go that route.
“I’m trying on the 14th Modification, as as to whether or not now we have the authority. I feel now we have the authority,” Biden mentioned, talking to reporters in Japan following the G-7 summit.
“The query is: May or not it’s accomplished and invoked in time that it couldn’t — wouldn’t — be appealed and, as a consequence, move the date in query and nonetheless default on the debt. That’s a query that I feel is unresolved,” he added.
Biden mentioned congressional leaders have pledged the nation won’t default, so invoking the 14th Modification shouldn’t be obligatory.
“Once we sat within the room with all of the leaders, from Mitch McConnell on, and so they mentioned, ‘We won’t default. Interval. We won’t default.’ That’s what all, together with Kevin McCarthy, mentioned. ‘We won’t default,’” Biden mentioned. “I’m assuming that we imply what we are saying, and we’ll work out a technique to not should default.”
The 14th Modification reads partially: “The validity of the general public debt of the US … shall not be questioned,” and in idea, invoking it could make it unconstitutional for the U.S. to default if Congress doesn’t increase the debt ceiling.
Learn extra: The 14th Modification: Right here’s the way it pertains to the debt-ceiling debate
Treasury Secretary Janet Yellen echoed Biden that it’s possible too late within the course of to attempt to use the 14th Modification.
“It doesn’t seem to be one thing that may very well be appropriately utilized in these circumstances, given the authorized uncertainty round it, and given the tight timeframe we’re on,” she mentioned in an interview Sunday on NBC Information’ “Meet the Press.”
In an look on “Fox Information Sunday,” Sen. Ted Cruz, R-Texas, mentioned Biden’s place on the 14th Modification is “legally frivolous.”
“That’s a provision that was put in place to say that we’re going to pay our Civil Warfare money owed,” Cruz mentioned “It refers back to the Civil Warfare that we had simply fought and paying these battle money owed off.”
Talking in Japan on Sunday morning, Biden referred to as on Republicans to drop their “excessive positions” and be open to compromise in debt-ceiling negotiations. Later within the day, Home Speaker Kevin McCarthy, R-Calif., mentioned he and Biden will meet in particular person Monday following a “productive” cellphone dialog whereas Biden was flying dwelling.
