Janet Yellen on Debt Ceiling: Biden Invoking 14th Amendment ‘Not Good’ But Possible Emergency Option

Treasury Secretary Janet Yellen said Sunday on ABC’s “This Week” that President Joe Biden invoking the 14th Amendment to address the debt ceiling was a “not good” emergency option that could cause a “constitutional crisis.”

Anchor George Stephanopoulos said, “Of course, there’s always the chance for this negotiation that you don’t reach a deal, and then it comes back to the president. He said on Friday night that he is not ready. The 14th Amendment that it should not be questioned. And the implications would be the United States would continue to issue debt, saying it is unconstitutional not to. The president says he is not ready to do that, but it does not seem like he took it off the table. Is it still a possibility?

Yellen said, “Our priority is to make sure that Congress does its job. There is no way to protect our financial system in our economy other than Congress doing its job and raising the debt ceiling and enabling us to pay our bills, and we should not get to the point where we need to consider whether the President can go on issuing debt. This would be a constitutional crisis.”


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