There are signs that negotiations over raising the nation’s debt limit are gaining momentum, but major differences remain and it’s unclear how quickly an agreement could come together. “Congress has ability to do that, and the president is calling on them to act on that as quickly as possible,” he said Friday. The solution ultimately rests with Congress to raise the debt limit, Adeyemo said. The president has previously said he believes the federal government has the “authority” to do so but that he doesn’t consider invoking the 14th Amendment as an imminent solution. Some progressives have called for President Joe Biden to invoke the amendment – which says, in part, that the “The validity of the public debt of the United States … shall not be questioned” – but such an action would risk a constitutional crisis and swift legal action. So, yes, that is a no,” Adeyemo said when asked about the prospect by CNN’s Poppy Harlow on “CNN This Morning.” “The question was whether the United States would use the 14th Amendment and I think the president and (Treasury Secretary Janet Yellen) have been very clear that that will not solve our problems now. Invoking the 14th Amendment to lift the borrowing cap on the US debt ceiling as a way to work around slow-moving negotiations is not an option, Deputy Treasury Secretary Wally Adeyemo told CNN Friday, the administration’s most definitive response yet to an unlikely option demanded by some progressives.
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