Treasury Secretary Janet Yellen Warns of “Constitutional Crisis” if 14th Amendment is Used to Raise Debt Ceiling

At a high-stakes White House meeting on Sunday, Treasury Secretary Janet Yellen warned that if the White House is forced to cite the 14th Amendment as it navigates House Republicans’ debt-ceiling hostage-taking gambit, the United States would enter a “constitutional crisis.” This comes days after President Biden left the option open as some members of Congress continue to signal they may well shoot the hostage.

This week marks the start of a defining challenge of House Speaker Kevin McCarthy’s two decades in elected office: whether he can strike a deal with President Joe Biden that averts an unprecedented debt default and quells the hard-right conservatives ready to revolt against him.

Yellen stated on ABC News’ “This Week” that the priority is to make sure that Congress does its job and that the White House is doing everything it can to ensure that the debt ceiling is raised. She also noted that the White House is open to a bipartisan agreement, but that the 14th Amendment is an option if Congress fails to act.

The 14th Amendment states that the validity of the public debt of the United States, authorized by law, is not to be questioned. It is unclear if the White House would be able to use the amendment to bypass Congress and raise the debt ceiling.

The Treasury Secretary also noted that the consequences of not raising the debt ceiling would be severe and could include a global economic crisis. She urged Congress to act quickly and responsibly to ensure that the debt ceiling is raised and the United States avoids a potential crisis.