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The US rejects a constitutional remedy to the debt crisis, saying it “isn’t going to fix”

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The US rejects a constitutional remedy to the debt crisis, saying it

The White House announced Tuesday that President Joe Biden will not rely on the 14th Amendment to avert a US debt default, ruling out a legal way out of the present debt standoff.

In an effort to achieve an agreement to raise the current borrowing ceiling so that the US can fulfil its existing spending commitments, President Biden and Republican House Speaker Kevin McCarthy have met face-to-face three times.

According to some legal experts, the US Treasury could simply ignore the debt ceiling if the 14th Amendment were invoked, but that “is not going to fix the current problem we have right now,” White House Press Secretary Karine Jean-Pierre assured reporters.

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Biden previously stated that he was researching whether he could use the 14th Amendment, but he was worried about the potential financial harm while any legal challenges were pending.

According to Jean-Pierre’s comments, whatever ideas he might have had to use a constitutional provision to address the financial situation have been shelved.

Additionally, Jean-Pierre gave the impression that he was against raising the debt ceiling temporarily in order to give Biden and Mccarthy’s teams more time to talk. He told reporters that such a move is “not on the table.”