US Treasury Secretary Janet Yellen has said there are “simply no good options” in Washington for dealing with the country’s national debt limit. She says there are no options other than for Congress to repeal the cap and warned that invoking the 14th Amendment would trigger a constitutional crisis. This is reported on ABC’s “This Week” broadcast.
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Yellen says there are “simply no good options” in the US to resolve the national debt impasse. The politician believes there are no options other than for Congress to repeal the restriction. She warned that invoking the 14th amendment would trigger a constitutional crisis.
“We should not get to the point where we have to consider whether the president can continue to issue debt. That would be a constitutional crisis,” she argued.
That said, constitutional scholars and economists are divided over the Biden administration’s continued debt issuance, and they cite that the provision of America’s Constitution, the validity of public debts “should not be questioned”. The politician insisted in her remarks that Congress should raise the country’s national debt ceiling.
“All I am saying is that it is the job of Congress to do it. If they can’t do it, y we’re going to have an economic and financial disaster that’s our fault, and President Biden and the US Treasury can’t do anything to prevent that disaster,” Yellen concluded.
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