(PatriotWise.com) — Independent Senator Bernie Sanders said President Biden must invoke the powers of the 14th Amendment to avoid a US default. The Senator wrote on Fox News that the President has only one option. He accused Republicans of pandering to the super-rich as they negotiated the stalemate’s end. He added that the current debate on the debt ceiling is demonstrative of the priorities of both parties in Congress.
“In my view, the debate we are having on the debt ceiling is about our national priorities. It is about what we value as a nation and whose side we are on,” he wrote.
The 14th Amendment states, “The validity of the United States public debt… shall not be questioned.” Sanders argues that this provides a Constitutional guarantee that the US will always pay its debts, regardless of the circumstances. He said Biden must use this guarantee and sidestep Congressional approval.
The default deadlock has been rumbling on for weeks. The debt ceiling is the amount of money the government can borrow, and it currently sits at $31.4 trillion. The White House wants to raise this but needs Republican support in Congress to do so. Republicans say they will only back an increase if the government agrees to spending cuts.
GOP proposals include adding work requirements to certain social security benefits and canceling an impending funding boost for the IRS. The White House has so far refused to agree to GOP demands.
Legal experts are divided on the intent of the 14th Amendment, which has never been used in this context before. Some lawyers agree with Senator Sanders, while others argue that the law was not intended to provide unilateral power to the President.
Biden has previously said he is considering utilizing the Amendment.
Treasury Secretary Janet Yellen warned lawmakers that the impasse must be broken by June 1st. She said failure to reach an agreement would result in a global financial crisis and a crippling recession in the US.
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