Biden provokes on 14th Amendment on the Debt Ceiling
Biden and McCarthy to Meet Monday to Continue Debt Ceiling Negotiations
President Biden and House Speaker Kevin McCarthy (R-Calif.) will meet Monday to continue debt ceiling negotiations. The two leaders spoke on the phone Sunday, and Biden said the call went well. McCarthy also described the call as productive.
The debt ceiling is the limit on how much money the federal government can borrow. The current debt ceiling is $31.4 trillion. The Treasury Department has said that it will run out of money to pay its bills on October 18.
Democrats have said that they will not raise the debt ceiling without Republican support. Republicans have said that they are willing to negotiate a debt ceiling deal, but they are also seeking spending cuts.
It is unclear what will happen in the debt ceiling negotiations. However, the stakes are high. If the government defaults on its debt, it could have a significant impact on the economy.
Biden T provokes on 14th Amendment “authority” on the Debt Ceiling
President Biden has said that he believes he has the authority to raise the debt ceiling under the 14th Amendment. The 14th Amendment gives Congress the power to “pay the debts and provide for the common defense and general welfare of the United States.”
Biden has not said whether he will invoke the 14th Amendment. However, his comments have put pressure on Republicans to come to the negotiating table.
Republicans have said that they oppose Biden’s plan to invoke the 14th Amendment. They argue that it would be an overreach of executive power.
It is unclear whether Biden will ultimately invoke the 14th Amendment. However, his comments have made it clear that he is willing to take unilateral action if necessary.
The Current Scenario
The debt ceiling negotiations are at a standstill. Democrats and Republicans are at odds over how to raise the debt ceiling. Democrats want to raise the debt ceiling without Republican support. Republicans want to negotiate a debt ceiling deal that includes spending cuts.
It is unclear what will happen in the debt ceiling negotiations. However, the stakes are high. If the government defaults on its debt, it could have a significant impact on the economy.
The debt ceiling is a political issue, not a financial one
The debt ceiling is not a financial issue. The United States has the money to pay its bills. The debt ceiling is a political issue. It is a way for one party to try to force the other party to do something they don’t want to do.
A government default would have a significant impact on the economy
A government default would have a significant impact on the economy. It would lead to a decrease in confidence in the U.S. government, which would make it more difficult to borrow money in the future. It would also lead to an increase in interest rates, which would make it more expensive for businesses to borrow money and invest. This would lead to a decrease in economic growth.
What can you do?
There are a few things you can do to help prevent a government default. You can stay informed about the negotiations and contact your elected officials to let them know your views. You can also donate to organizations that are working to raise awareness about the issue.
The Progressive Change Campaign Committee
Here are some organizations that are working to raise awareness about the debt ceiling and the potential impact of a government default:
- The Committee for a Responsible Federal Budget
- The Concord Coalition
- The National Taxpayers Union
Final Words
The debt ceiling negotiations are a complex and important issue. The outcome of the negotiations will have a significant impact on the economy. It is important to stay informed about the negotiations and to contact your elected officials to let them know your views.
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