Biden Asserts 14th Amendment Debt Ceiling Authority.
Janet Yellen’s Response To Biden
“I’m looking at the 14th Amendment as to whether or not we have the authority — I think we have the authority,” Biden told reporters at a press conference in Hiroshima, Japan, on Sunday.
Treasury Secretary Janet Yellen promptly shot down Joe Biden’s argument that he could unilaterally lift the debt ceiling based on the 14th Amendment.
Could it be done and activated in time that it would not be appealed, allowing default on the debt to continue through the relevant date? I still have my doubts about that.
In response to Vice Resident Biden’s allegation, Treasury Secretary Yellen refuted it on MSNBC, saying that the 14th Amendment cannot increase the debt cap.
“Does the 14th Amendment fall under the category of extraordinary measures?” Meet the Press host Chuck Todd asked.
Yellen replied,
“Well, extraordinary measures is used in a different way, but there hasn’t been much discussion of the 14th Amendment, and as President Biden said, I believe this morning, it doesn’t seem like something that could be appropriately used in these circumstances given the legal uncertainty around it and given the tight timeframe we’re on. So my devout hope is that…
