{"id":1936497,"date":"2023-05-23T23:40:30","date_gmt":"2023-05-24T03:40:30","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-says-14th-amendment-wont-fix-the-current-debt-problem\/"},"modified":"2023-05-23T23:42:39","modified_gmt":"2023-05-24T03:42:39","slug":"white-house-says-14th-amendment-wont-fix-the-current-debt-problem","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/white-house-says-14th-amendment-wont-fix-the-current-debt-problem\/","title":{"rendered":"White House: 14th Amendment won&#8217;t solve debt issue."},"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%2Fwhite-house-says-14th-amendment-wont-fix-the-current-debt-problem%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=1936497&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>The White House Rejects 14th Amendment Solution to Debt Crisis<\/h2>\n<p>The White House has dismissed the idea of invoking the 14th Amendment to prevent the US from defaulting on its $31 trillion debt. Nearly a dozen left-wing Senators had suggested that President Joe Biden use such authority. However, White House press secretary Karine Jean-Pierre told reporters that this would not solve the current crisis. She emphasized that Congress needs to act to address the issue.<\/p>\n<h3>Debt Ceiling Crisis Looms<\/h3>\n<p>The Biden administration has warned that the US could run out of money as soon as June 1. The debt ceiling, a statute established by Congress that prevents the government from spending beyond a <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/government-wasted-shocking-amount-of-money-on-incorrect-payments-last-year\/\" title=\"Government Wasted Shocking Amount Of Money On Incorrect Payments Last Year\">predetermined national debt limit<\/a> of $31.4 trillion, exceeded the threshold earlier this year. Treasury Secretary Janet Yellen affirmed in a letter that her agency expects to default as early as the first day of June unless lawmakers amend the debt limit.<\/p>\n<h3>Biden Suggests 14th Amendment Solution<\/h3>\n<p>Biden suggested invoking the 14th Amendment, which states the \u201cvalidity of the public debt of the United States \u2026 shall not be questioned,\u201d to raise the debt ceiling during a press conference on Sunday in Japan. However, he acknowledged that the question of whether this could be done in time to avoid default was unresolved.<\/p>\n<h3>Republicans and Democrats at Odds<\/h3>\n<p>Republicans desire to link a temporary increase in the debt ceiling with spending caps, while Democrats say they <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/major-bank-sets-up-war-room-as-nation-approaches-debt-default\/\" title=\"Bank creates 'war room' for approaching debt default.\">prefer separate processes<\/a> for <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/terry-paulson-time-to-build-public-support-for-debt-limit-demands\/\" title=\"Terry Paulson: Time to Build Public Support for Debt Limit Demands\">debt limit negotiations<\/a> and budget reforms. House Speaker Kevin McCarthy accused Biden of being beholden to \u201cradical socialists\u201d as a potential default looms. However, Jean-Pierre shifted the blame to members of Congress, emphasizing that the president wants any action to be strongly supported by the law.<\/p>\n<h3>Urgency to Resolve the Crisis<\/h3>\n<p>A default would likely cause a recession as the federal government fails to repay obligations. The national debt is a source of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/karine-jean-pierre-claims-house-republicans-could-cause-the-single-biggest-threat-to-the-economy\/\" title=\"Karine Jean-Pierre warns House Republicans pose a major threat to the economy.\">persistent financial risk<\/a> for the United States and a damper on <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/4-intellectuals-who-started-out-liberal-but-ended-up-conservative\/\" title=\"4 Intellectuals Who Started Out Liberal But Ended Up Conservative\">long-term economic growth<\/a>. Elevated interest rates on the national debt have recently weighed on the budget as lawmakers are forced to devote more revenues toward servicing the obligations rather than funding programs. There is an urgency to resolve the crisis as soon as possible.<\/p>\n<p><em>Jeffrey Cawood and Ben Zeisloft contributed to this report.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>this time,\u201d said White House Press Secretary Jen Psaki, dismissing the idea of using the 14th Amendment to avoid defaulting on the $31 trillion debt. Several Senators had suggested President Biden use this authority, but the White House believes it won&#8217;t solve the current national crisis.<\/p>\n","protected":false},"author":429,"featured_media":1936498,"comment_status":"open","ping_status":"closed","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":[541],"tags":[13813,4935,5487,3653,4174,9822,3765,4324],"class_list":["post-1936497","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-daily-wire","tag-14th","tag-amendment","tag-debt","tag-house","tag-issue","tag-solve","tag-white","tag-wont"],"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\/1936497","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\/429"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1936497"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1936497\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1936498"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1936497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1936497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1936497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}