Biden won’t invoke 14th Amendment on debt ceiling, deputy treasury secretary says

Adeyemo’s remarks are the most concrete indication yet that Biden does not plan to use the amendment to address the national debt ceiling issue. The United States faces economic calamity if a debt deal is not reached.

“The 14th Amendment cannot solve our problems now. At the end of the day, the only thing that can do that is for Congress to do what it’s done 78 other times – raise the debt ceiling,” the assistant treasury secretary said. “We don’t have a plan B that allows us to meet the commitments we made to our creditors, to our elders, to our veterans, to the American people.”