Shutdown Countdown, Armageddon Edition, Con't

Senate Dems are calling on President Biden to take the debt ceiling default time bomb and unilaterally disarm it using the 14th Amendment's Public Debt Clause.

 

A group of Senate Democrats is circulating a letter urging President Biden to prepare to invoke the 14th Amendment to unilaterally resolve the debt ceiling standoff without involving Congress, according to a copy obtained by The Washington Post ahead of its release.

The letter, signed by five senators so far, reflects building unease among White House allies over the direction of negotiations between the president and House Speaker Kevin McCarthy (R-Calif.) on an agreement expected to cut the deficit and raise the debt limit. Liberal lawmakers have balked as Biden entertains spending cuts and new work requirements on federal aid programs — fueling interest in a solution to the standoff that does not require a deal with McCarthy. The effort comes as House Democrats start to collect signatures for a discharge petition to move legislation that would raise the debt ceiling without any other policy changes, a long-shot procedural move aimed at bypassing the chamber’s Republican leaders.

The senators’ letter reminds Biden that the 14th Amendment says “the validity of the public debt, authorized by law … shall not be questioned.” Lawmakers have just days before a possible June 1 deadline to raise the nation’s borrowing limit. If the cap isn’t raised by the time the Treasury Department runs out of available cash, the nation risks default, which would likely prompt a global economic shock that could send the U.S. into a recession.

“Republicans have made it clear that they are prepared to hold our entire economy hostage unless you accede to their demands to reduce the deficit on the backs of working families. That is simply unacceptable,” the letter states. “We write to urgently request that you prepare to exercise your authority under the 14th Amendment of the Constitution. Using this authority would allow the United States to continue to pay its bills on-time, without delay, preventing a global economic catastrophe.”

The letter has been signed thus far by Democratic Sens. Tina Smith (Minn.), Elizabeth Warren (Mass.), Edward J. Markey (Mass.), Bernie Sanders (Vt.) and Jeff Merkley (Oregon). Those lawmakers met in the Capitol Tuesday to discuss their plans. More signatures are expected before its release, with Sen. Sheldon Whitehouse (D-R.I.), for instance, also calling for the president to invoke the 14th Amendment on Twitter.

“We are in a situation where these extreme Republicans in the House are demanding completely untenable policies in exchange for not driving the country’s economy off a cliff,” Smith said. “I think it’s important we understand there is another option.”

Despite growing support among Democrats, any attempt to solve the problem without GOP involvement faces enormous obstacles. The Biden administration appears eager for a deal with House Republicans, and White House aides believe there could be huge economic and legal risks in pursuing the 14th Amendment strategy of ignoring Congress. It’s also unclear that the discharge process, which is cumbersome, could be completed before the nation defaults.

 

To his enduring credit, President Biden has already pushed back on those work requirements, once again demanding a clean debt ceiling bill like the GOP voted for three times under Trump.

It's good to see the Senate Dems in the Bernie camp agreeing with Biden on this. More of actually treating the President and leader of the Democratic party as such, thanks.