The White House has officially dismissed the possibility of utilizing the 14th Amendment as a constitutional solution to the ongoing US debt crisis. President Biden and Republican Speaker of the House of Representatives Kevin McCarthy have engaged in multiple rounds of face-to-face discussions in an effort to reach a mutually agreeable resolution and raise the borrowing limit to meet existing spending obligations.
While some legal scholars have argued that invoking the 14th Amendment would enable the US Treasury to bypass the debt limit, the White House Press Secretary, Karine Jean-Pierre, stated that this approach would not effectively address the current problem. The President had previously expressed interest in exploring the constitutional option, but concerns were raised regarding potential economic repercussions resulting from prolonged legal challenges.
Jean-Pierre's remarks indicate that President Biden has decided to set aside any plans to rely on a constitutional mechanism to tackle the debt crisis. Moreover, she also indicated that a short-term extension of the debt ceiling to provide additional time for negotiations is not being considered as a viable solution.
As the discussions between Biden and McCarthy continue, alternative strategies and compromises are being explored to avert a potential default and safeguard the US economy. Both sides remain focused on finding a resolution that can garner bipartisan support and ensure the country's financial stability. The White House remains committed to pursuing a negotiated agreement rather than relying on constitutional measures, reaffirming its determination to address the debt crisis through diplomatic channels.
