President Joe Biden is facing mounting pressure from Democrat Senators, They want the President to bypass Congress and handle the Debt Ceiling issue solely through the legal system.
The Desperate Guide to Joe Biden
Democrat Rep. Brendan Boyle, started a petition to force a vote on raising the Debt Ceiling, even as legislative leaders and President Joe Biden voiced hope about doing it before the June 1 deadline. Democratic Senators, Jeff Merkley, Tina Smith, Bernie Sanders, Ed Markey, and Elizabeth Warren urged President Biden to invoke a clause in the 14th Amendment to raise the Debt Ceiling.
Default Risk As Debt Ceiling Upliftment Opposed
Earlier this month, The Speaker McCarthy stated that, he is opposed to raising the Debt Ceiling using the 14th Amendment.
Treasury Secretary Janet Yellen has cautioned Speaker McCarty about the Debt Ceiling. She said that, if the Debt Ceiling is not lifted by, then the US could default on their payments. Legislators have yet to come to a consensus, as yet. However, to avert an unprecedented and financially disastrous default, a large number of Democrats seem to be supporting Article IV, Section 4, as the US gets closer and closer to default. It states, “the validity of the public Debt of the United States, authorised by law, including Debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.”.
Democrats Way Out To Uplift Debt Ceiling
The Democrats may have to force a vote to increase the Debt limit. In such a scenario, regardless of party affiliation, a discharge petition, needs 218 signatures. On Wednesday, more than 200 lawmakers signed the petition,. The Democrats anticipate receiving signatures from everyone of their 213 members.
Tweeting his support for the Democrats, Sen. Sheldon Whitehouse said “disabling the hand grenade McCarthy is wielding would relieve markets forever that this dangerous brinksmanship will never happen again”.
Rep. Alexandria Ocasio-Cortez summed it up in a tweet,
“Here’s the deal: McCarthy has nowhere near the votes for a deal and therefore cannot negotiate Debt Ceiling”.
The 14th Amendment might be a crucial tool to avert a default in a matter of weeks with talks and meetings by the administration this week to achieve a solution quickly.
photo credit by
Featured Image :
