Biden won’t use nuclear option if debt talks fail.

Biden Decides Against Invoking 14th Amendment to Avoid Debt Default

President Joe Biden has decided not to invoke the 14th Amendment to the Constitution to prevent the U.S. from defaulting on its debt, even if he fails to reach a deal with House Republicans to raise the debt limit. This comes after slow and difficult negotiations with House Speaker Kevin McCarthy on a debt limit increase. Biden had publicly considered whether he could invoke the amendment’s fourth section to unilaterally pay U.S. creditors without congressional authorization.

The plan was criticized by Republicans and some Democrats, and Treasury Secretary Janet Yellen and Biden have since decided against doing so, according to Deputy Treasury Secretary Wally Adeyemo. “The 14th Amendment can’t solve our challenges now. Ultimately, the only thing that can do that is Congress … raising the debt limit,” he said.

“No.” Deputy Treasury Secretary @wallyadeyemo tells me definitely the Biden administration will not invoke the 14th Amendment even if there is no deal to raise the debt ceiling by June 1st. @USTreasury pic.twitter.com/9EldBpMYhC

— Poppy Harlow (@PoppyHarlowCNN) May 26, 2023

Several Senate Democrats wrote a letter to Biden urging him to “prepare to exercise your authority under the 14th Amendment … preventing a global economic catastrophe.” However, Republicans and legal experts condemned the measure and said it would lead to severe consequences for the president.

Support for invoking the 14th Amendment to avoid a debt default came from Harvard Law School professor Laurence Tribe, a constitutional law scholar who wrote a New York Times essay in favor of invocation. Tribe claimed that “Congress — after passing the spending bills that created these debts in the first place — [cannot] invoke an arbitrary dollar limit to force the president and his administration to do its bidding.”

However, Richard Epstein of New York University Law School, a constitutional scholar, told the Daily Caller News Foundation that an invocation would risk an “impeachable offense.” Meanwhile, Andrew McCarthy of National Review Institute said that “any debt [Biden] issued based on this deeply flawed interpretation of the amendment would be worthless.” Jonathan Turley, a law professor at George Washington University, said it would “reduce the separation of powers doctrine to junk bond status.”

Senate Minority Leader Mitch McConnell warned Biden that doing so was “not an option,” while Republican Rep. Lauren Boebert of Colorado said that “Congress — not the President — has the power to enforce Section 4.”

Biden and McCarthy remain in negotiations over a deal, with House Republicans declining to approve any measure that does not have sufficient cuts to public spending and other policy measures. The House Freedom Caucus has signaled it will not approve a deal lacking several concessions, with McCarthy needing their support to keep House Republicans largely united.

35 @HouseGOP Members write to @SpeakerMcCarthy to #HoldTheLine on debt ceiling to preserve GOP unity.
1⃣Add policies to #LimitSaveGrowAct like border security.
2⃣Demand Yellen shows her math on June 1 X-date.
3⃣Rapidly pass COVID+IRS rescissions to push debt ceiling thru June. pic.twitter.com/tA6QMf5DpS

— House Freedom Caucus (@freedomcaucus) May 25, 2023

McCarthy did not immediately respond to a request for comment.

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