The deadlock between Democrats and Republicans over raising the debt ceiling has gone on for months, and the stakes could not be higher. If an agreement is not reached by as soon as 1 June, the United States could default on its bond payments and other obligations, with potentially catastrophic implications for the economy.
There are plenty of issues in Washington over which the two parties cannot agree, but the high consequences of a failure to raise the debt limit has some scholars arguing that Biden should invoke the 14th amendment to order the Treasury department to continue paying its bills, even if the ceiling isn’t increased.
Read more at the Guardian.com
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