{"id":1926629,"date":"2023-05-08T13:11:02","date_gmt":"2023-05-08T17:11:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-invoking-the-14th-amendment-as-plan-b-to-avert-debt-default\/"},"modified":"2023-05-08T13:13:38","modified_gmt":"2023-05-08T17:13:38","slug":"analysis-invoking-the-14th-amendment-as-plan-b-to-avert-debt-default","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-invoking-the-14th-amendment-as-plan-b-to-avert-debt-default\/","title":{"rendered":"Using the 14th Amendment to Avoid Debt Default?"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fanalysis-invoking-the-14th-amendment-as-plan-b-to-avert-debt-default%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1926629&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><h2>Debt-Ceiling Standoff: Will the 14th Amendment Be Invoked?<\/h2>\n<h3>What&#8217;s Happening?<\/h3>\n<p>As the U.S. government approaches the X-date, when it can no longer borrow and must rely on incoming revenue to settle its obligations, the idea of invoking the 14th Amendment has come into the spotlight. This would involve using executive power to declare the debt ceiling unconstitutional and prevent a U.S. sovereign debt default if negotiations on raising the debt cap fail.<\/p>\n<h3>The Current Situation<\/h3>\n<p>The United States hit its $31.<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/dems-reject-matched-spending-cuts-setting-up-debt-ceiling-showdown-with-gop\/\" title=\"Dems Reject Matched Spending Cuts, Setting Up Debt Ceiling Showdown With GOP\">4 trillion debt ceiling<\/a> in January, leaving it to Congress to raise the cap and allow the government to keep paying its bills. Democrats have insisted on legislation with no preconditions to raise the debt ceiling, while Republicans have <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/risk-of-debt-default-is-non-trivial-warns-jpmorgan\/\" title=\"Risk of Debt Default Is \u2018Non-Trivial,\u2019 Warns JPMorgan\">demanded spending cuts<\/a> in exchange for their support to lift the borrowing cap.<\/p>\n<p>President Joe Biden and House Speaker Kevin McCarthy (R-Calif.) are slated to meet this week to discuss raising the debt ceiling, while Treasury Secretary Janet Yellen has warned that if no solution is reached, then the X-date (and a possible debt default) could come as early as June 1.<\/p>\n<h3>The 14th Amendment<\/h3>\n<p>Biden has suggested that he\u2019s considering invoking the 14th Amendment, which reads in part that the \u201cvalidity\u201d of America\u2019s public debt \u201cshall not be questioned.\u201d However, Yellen downplayed the idea that this would be a viable solution, calling it a &#8220;constitutional crisis.&#8221;<\/p>\n<h3>The Risks<\/h3>\n<p>With rhetoric heating up around the possibility of a debt default, attention has increasingly turned to what measures aside from a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/analysis-invoking-the-14th-amendment-as-plan-b-to-avert-debt-default\/\" title=\"Using the 14th Amendment to Avoid Debt Default?\">congressionally approved lifting<\/a> of the debt ceiling could be reached to avoid what Yellen said would be an \u201ceconomic calamity.\u201d Some two dozen Republican senators have expressed their commitment to oppose raising the debt cap without \u201csubstantive spending and budget reforms.\u201d<\/p>\n<h3>The Bottom Line<\/h3>\n<p>The risk of a debt default is real, and the consequences could be dire. It&#8217;s up to Congress to act and raise the debt ceiling to avoid an economic and financial catastrophe. The question remains whether the 14th Amendment will be invoked as a last-ditch measure to prevent a default.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the debt-ceiling standoff grinds toward the so-called X-date, when the government can no longer borrow and must rely on incoming revenue to settle its obligations, the idea of invoking the 14th Amendment as a possible way to avoid a possible debt default has come into the spotlight. Invoking the 14th Amendment\u2014using executive power to<\/p>\n","protected":false},"author":118,"featured_media":1926630,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[543],"tags":[13813,4935,5454,5487,15651],"class_list":["post-1926629","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-epoch-times","tag-14th","tag-amendment","tag-avoid","tag-debt","tag-default"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1926629","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/118"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1926629"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1926629\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1926630"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1926629"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1926629"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1926629"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}