President Biden on Sunday said he believes he has the authority to use the 14th Amendment to unilaterally address the debt ceiling, but he acknowledged potential legal challenges could still lead the nation to default if he went that route.
“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.
“The question is, could it be done and invoked in time that it would not be appealed, and as a consequence past the date in question and still default on the debt.
“So I’m assuming that we mean what we say and we’ll figure out a way to not have to default,” Biden said.
The Treasury Department has warned the U.S. could default as early as June 1 if no action is taken to raise the debt ceiling.
Biden earlier this month said he had been “considering” the 14th Amendment as a way to unilaterally work around the debt ceiling, but he acknowledged that it would not be a viable short-term solution.
Treasury Secretary Janet Yellen previously warned that using the 14th Amendment could trigger a “constitutional crisis,” calling it “one of the not good options” if Congress failed to act. »
