UPDATE 3:26 PM PT – Sunday, October 10, 2021
Treasury Secretary Janet Yellen said the US should never be in a position to consider lifting the Fourteenth Amendment to avoid the debt limit. During an interview on Sunday, Yellen said White House interference on debt would be a “dire situation.”
Experts have debated the possibility of Biden’s White House using the amendment to quell Congress’s fight over extending the debt ceiling. They quoted Section Four of the Fourteenth Amendment as saying that the US public debt will not be called into question.
Members of both sides must unite immediately to protect families and small businesses from catastrophic consequences. These include the likely start of a recession, millions of lost jobs, a weaker dollar, and consistently higher interest rates.
– Secretary Janet Yellen (@SecYellen) October 5, 2021
Yellen went on to stress that Congress has a responsibility to silence the fight against debt.
“Well, because the responsibility of your Congress to show that it has the determination to foot the bill that the government builds up,” he said. “We shouldn’t be in a position where we have to consider whether the Fourteenth Amendment applies or not.”
Meanwhile, Yellen remains confident that lawmakers on both sides can reach a compromise by the deadline to vote on raising the debt ceiling on December 3.
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[ https://newswarden.com/yellen-the-u-s-should-never-be-in-the-position-to-invoke-14th-amendment-on-extending-debt-limit-9/ https://d26toa8f6ahusa.cloudfront.net/wp-content/uploads/2021/07/30214746/a-quiet-place-part-2-bigs-16.pdf