Biden and Senate Dems push to eliminate debt ceiling and avoid default.

1 min read
Source: Business Insider
Biden and Senate Dems push to eliminate debt ceiling and avoid default.
Photo: Business Insider
TL;DR Summary

Senate Democrats are urging President Joe Biden to use the 14th amendment to bypass Congress and declare the debt ceiling unconstitutional, which would get rid of the debate forever. The 14th amendment would allow Biden to continue borrowing as normal to pay for the nation's financial obligations, preventing a global economic catastrophe. However, Biden has expressed hesitancy taking that route due to potential litigation, and not all Democrats are on board with the idea. The administration plans to continue talks this week to reach a deal as soon as possible.

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