Debt Limit Showdown: Court to Hear 14th Amendment Argument.

A judge in Boston has set a May 31 hearing on a lawsuit filed by a federal workers union contending that the 14th Amendment empowers President Joe Biden and other officials to sidestep the standoff with Congress that has threatened a potential default. The lawsuit argues that Biden has the legal authority to ignore the debt limit statute and continue to pay the federal government’s bills. Treasury Secretary Janet Yellen has said the so-called X-date for a default could come as soon as June 1.