US Treasury Secretary Janet Yellen said the United States would face a constitutional crisis if President Joe Biden used the 14th Amendment to bypass Congress and raise the national debt threshold. It has been reported Bloomberg.
“We should not find ourselves in a situation where we have to consider whether the president can continue to lend (without congressional approval). – socialbites.ca). It will be a constitutional crisis,” Yellen stressed.
Chapter 14 of the 14th Amendment states that “there is no lawfulness of the public debt of the United States, as permitted by law, including debts incurred to pay pensions and awards for service in suppressing an insurrection or insurrection.”
formerly Yellen statedThe authority of the institution to take extraordinary measures to prevent default is coming to an end because such measures have been in effect for several months.
On May 7, a group of 43 members of the Senate of the Republic refused agreed to raise the debt ceiling.
According to senators, the presidential administration should make significant cuts in public spending and budget reforms.