President Joe Biden said Sunday that he believes he has the authority to invoke the 14th Amendment to resolve the debt-ceiling crisis, but that it may be too late in the game to go that route.
“I’m looking at the 14th Amendment, as to whether or not we have the authority. I think we have the authority,” Biden said, speaking to reporters in Japan following the G-7 summit.
Biden said congressional leaders have pledged the nation will not default, so invoking the 14th Amendment should not be necessary. The 14th Amendment reads in part: “The validity of the public debt of the United States … shall not be questioned,” and in theory, invoking it would make it unconstitutional for the U.S. to default if Congress does not raise the debt ceiling.Treasury Secretary Janet Yellen echoed Biden that it’s likely too late in the process to try to use the 14th Amendment.
In an appearance on “Fox News Sunday,” Sen. Ted Cruz, R-Texas, said Biden’s position on the 14th Amendment is “legally frivolous.”
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