Debt Ceiling Crisis Continues; Some Suggest Invoking 14th Amendment

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As Republicans and the White House cannot agree on raising the debt ceiling, talks of invoking the 14th Amendment have been presented.  This would allow Biden to issue new debt without authorization from Congress — a move that would be politically fraught and constitutionally debatable.  Economist and professor of law at the University of Florida Neil Buchanan told the Wall Street Journal, “The debt ceiling casts doubt on the validity of the debt because what it says is that if the debt ceiling becomes binding, the country won’t be able to pay some of its obligations.”  Treasury Secretary Janet Yellen said over the weekend, “If Congress fails to meet its responsibility, there are simply no good options.”  Biden and House Speaker Kevin McCarthy (R-CA) meet on Tuesday to discuss the situation.