Following the G7 summit in Japan, President Joe Biden strongly criticized Republican demands in the negotiations over the US debt ceiling, deeming them “unacceptable.” He threatens to use the 14th amendment, a constitutional clause that allows the President to bypass Congress and raise the debt ceiling himself.
President Joe Biden criticized Republican demands in the US debt ceiling negotiations on Sunday, deeming them “unacceptable.” Despite the standoff, he expressed confidence that a solution could be reached before a disastrous default.
Speaking at a press conference following the G7 summit in Hiroshima, Japan, Biden referred to the Republicans’ insistence on spending cuts as a condition for raising the government’s borrowing authority as “frankly unacceptable.”
He stated his intention to engage directly with Republican leader, House Speaker Kevin McCarthy during his return flight to Washington and expressed optimism about reaching an agreement.
However, Biden also acknowledged exploring the possibility of invoking the 14th amendment, an obscure constitutional clause that prohibits questioning the validity of public debt, as a means to bypass Congress and raise the debt ceiling himself.
The Treasury Department warned that without authorization for more borrowing, the government could face a default on its $31 trillion debt as early as June 1.
While the debt ceiling raise is typically a routine procedure, this year’s negotiations have been complicated by the Republican Party’s insistence on heavy spending cuts.
Biden has firmly opposed these demands, accusing his opponents of jeopardizing the US economy for political gains.
The impasse in discussions over the weekend has heightened concerns, as a failure to raise the debt ceiling would leave Washington unable to meet its financial obligations, potentially triggering global economic repercussions.
Miroslava Salazar with AFP
