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Biden rejects constitutional solution to debt crisis

Biden rejects constitutional solution to debt crisis

The White House said Tuesday that President Joe Biden is not considering invoking the 14th Amendment to prevent default on the U.S. debt.

Biden and House Republican Speaker Kevin McCarthy have been negotiating to reach a deal that would allow Washington to raise the current debt ceiling and meet its current obligations.

White House spokeswoman Karine Jean-Pierre told reporters that the amendment, which some academics say would allow the Treasury Department to ignore the debt ceiling, “doesn’t solve the problem we have now.”

Biden said days ago that he was exploring the possibility of invoking the 14th Amendment, but that he was concerned about the potential economic damage when potential legal challenges are resolved.

Jean-Pierre’s comments suggest that any plan to use a constitutional mechanism to resolve the debt crisis is on hold.

The spokesman also appeared to rule out a short-term extension of the debt ceiling to give the parties more time to negotiate. He told reporters that such a solution was “not on the table.”

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