Monday, June 24, 2024
More
    HomeWorldYellen Warns of a 'Constitutional Crisis' if 14th Amendment is Invoked by...

    Yellen Warns of a ‘Constitutional Crisis’ if 14th Amendment is Invoked by Biden Amid US Default Concerns

    Related stories

    Jagadish Reddy accuses Cabinet panel of deceiving farmers

    G Jagadish Reddy, a senior leader of BRS, criticized...

    ’73rd IPC to be kicked off by ‘Pharma Strides Walkathon’

    A group of organizations including the Indian Pharmaceutical Association,...

    Chief Guest Koonannesambashiva Rao at 2nd AITUC District Congress in Sarapaka

    Koonanneni Sambasiva Rao criticized the central government at the...

    YS Jagan requests government assistance after Telugu man from Andhra Pradesh is fatally shot in Arkansas, USA

    Gopikrishna, a native of Yazali in Karalapalem mandal, had gone to the US eight months ago in search of livelihood. The assailant came straight at him and shot him.

    US President Joe Biden is considering using the 14th Amendment to prevent the US from defaulting on its debt next month, according to a report by The Hill. The amendment’s fourth section states that the “validity of the public debt of the United States… shall not be questioned”. The Biden administration is reportedly exploring the use of this clause to avoid default. However, on Friday, the President told MSNBC that he had not yet made a decision.

    US Treasury Secretary Janet Yellen has warned that invoking the clause could lead to a “constitutional crisis”. She argues that the President has the authority to continue borrowing money to pay the country’s debts, even if the debt ceiling has been reached, because it is necessary to preserve the validity of the public debt. This interpretation is based on the idea that the President has a constitutional obligation to protect the creditworthiness of the United States, but it has not been tested in court and is still debated among legal scholars.

    - Advertisement -
    Also read:  Errabelli Dayakar Rao undecided about joining Congress

    Yellen has urged Congress to raise the debt ceiling, warning that failure to do so could lead to an “economic and financial catastrophe”. The White House has told House Speaker Kevin McCarthy that it wants a “clean” debt limit increase. Republicans argue that decisions related to spending and money must come through Congress, and have also expressed concerns about invoking the 14th Amendment.

    - Advertisement -

    Follow us

    3,565FansLike
    179FollowersFollow
    1,202FollowersFollow
    965SubscribersSubscribe

    Contribute News

    You can contribute an article to Telangana Tribune by dropping a mail at newsdesk@telanganatribune.com

    Latest stories

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here