During the crisis over the debt ceiling, President Biden following a number of congressional leaders including Bernie Sanders, John Fetterman, Elizabeth Warren and members of the so-called Squad laid claim to a power which no president has ever claimed before.
The president said that an obscure provision of the 14th Amendment, which states the public debt should not be questioned means that he could violate the debt ceiling set by Congress. This interpretation is nonsense. The amendment was intended to stop southern states from defaulting on Union debts from the Civil War.
It in no way transferred Congress’ authority over debt to the presidency, which would constitute the greatest executive branch power grab in history. Biden ended up not using the tactic, but he did use it for leverage and it is now an article of faith for the Democrats. This is dangerous to our constitutional order and to both U.S. and global financial markets.
It should be roundly condemned.