Top Stories

Biden will not invoke 14th Amendment, deputy Treasury secretary says

President Joe Biden will not invoke the 14th Amendment in the debt ceiling fight, Deputy Treasury Secretary Wally Adeyemo said.

“I think the president and secretary are clear that that will not solve our problems now. So, yes, that is a no,” Adeyemo said on CNN Friday morning when asked about the issue.

Advertisement

White House officials have said they don’t see the 14th Amendment — which says the “validity of the public debt” cannot be questioned — as a viable means of circumventing debt ceiling negotiations. Biden himself has said that he sees a bipartisan deal as the only option to the current standoff, casting doubt on the 14th Amendment as workable in public remarks.

Adeyemo’s remarks are the most concrete indication yet that Biden does not plan to use the amendment to solve the nation’s debt ceiling issue. The U.S. risks economic calamity if a debt deal isn’t reached.

Advertisement

“The 14th Amendment can’t solve our challenges now. Ultimately, the only thing that can do that is Congress doing what it’s done 78 other times — raising the debt limit,” the deputy treasury secretary said. “We don’t have a plan B that allows us to meet the commitments that we’ve made to our creditors, to our seniors, to our veterans, to the American people.”

Advertisement
citynews

Recent Posts

Trump picks Scott Bessent, the ‘investor favorite,’ for Treasury secretary

President-elect Donald Trump announced Friday evening that investor Scott Bessent will be his nominee for…

2 hours ago

Wike, G5 Governors Out To Destroy PDP – Rep Member Ugochinyere

A member of the House of Representatives from Ideato North and South Federal Constituency of…

2 hours ago

Why Nigerians are in pain, difficulties amid Tinubu’s reforms – Edun

Minister of Finance, Wale Edun, has said that non-implementation of economic reforms by past administrations…

2 hours ago

Naira Depreciates To ₦‎1,750/$ In Parallel Market

The Naira on Friday depreciated to N1,750 per dollar in the parallel market from N1,745…

2 hours ago

Why Seyi Tinubu Can’t Be Lagos Governor- Igbokwe

A member of the All Progressives Congress (APC), Joe Igbokwe, has said Seyi Tinubu, son…

19 hours ago

Simon Ekpa Not Our Member, Should Not Be Associated With Us- IPOB

IPOB PRESS RELEASE 22/11/2024 SIMON EKPA IS NOT AN IPOB MEMBER AND MUST NOT BE…

22 hours ago