Hartford Reporter

Washington, D.C. - On May 22, Rep. John Larson (CT-01), alongside Reps. Rosa DeLauro (CT-03), Lloyd Doggett (TX-37), Sylvia Garcia (TX-29), Eleanor Holmes Norton (DC-AL), and Jan Schakowsky (IL-09), urged President Biden to take decisive action under the 14th Amendment to prevent a default if Congressional leaders are unable to reach a legislative solution to raise the debt ceiling.

“The Fourteenth Amendment to the U.S. Constitution states, ‘The validity of the public debt of the United States, authorized by law… shall not be questioned.’ Under this amendment, it is clear the imposition of a debt ceiling is unconstitutional. In order to maintain our global preeminence, we must make it clear that we can never and will never default,” wrote the members.

“The consequences of adhering to an unconstitutional debt ceiling resulting in a breach would be catastrophic. Over 70 million Americans receiving Social Security checks, Americans using food assistance programs, and veterans relying on benefits could see their safety net disappear,” the members continued.

“We are appreciative of your work to reach a deal with Congressional leadership and support a legislative path forward to end the current crisis, should one be available. However, we ask that you keep the 14th Amendment as a backstop to prevent catastrophe,” the members concluded.

The full text of the letter is below, and a PDF is available here.

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Dear Mr. President,

We write today urging you to take decisive action to protect the full faith and credit of the United States. The Fourteenth Amendment to the U.S. Constitution states, “The validity of the public debt of the United States, authorized by law… shall not be questioned." Under this amendment, it is clear the imposition of a debt ceiling is unconstitutional. In order to maintain our global preeminence, we must make it clear that we can never and will never default.  

The consequences of adhering to an unconstitutional debt ceiling resulting in a breach would be catastrophic. Over 70 million Americans receiving Social Security checks, Americans using food assistance programs, and veterans relying on benefits could see their safety net disappear. Jobs would vanish, our economy could enter into a recession, and panic would hit the banking and financial sectors. In short, the Nation would enter an unprecedented crisis of completely manufactured making.  

Defaulting on our national debt will not just be catastrophic to the American people, it will do lasting and irreversible damage to our role as a global superpower. Defaulting would send the message that the U.S. Dollar is no longer safe as world reserve currency and would only play into the hands to Russian and Chinese efforts to gain global financial influence.  

Under these circumstances, correctly recognizing that the debt limit is unconstitutional is a significantly less drastic and unprecedented step than allowing a default. Many scholars have noted that the Amendments passed following the Civil War are our Nation’s “Second Founding.” The Fourteenth Amendment was passed because it was recognized that weaponizing our National credit could have catastrophic consequences.  

We are appreciative of your work to reach a deal with Congressional leadership and support a legislative path forward to end the current crisis, should one be available. However, we ask that you keep the 14th Amendment as a backstop to prevent catastrophe. Further, after this immediate crisis has passed, we ask you to proactively pursue using the 14th Amendment to neutralize the continual cyclical threat to U.S. Credit and the American people that the debt limit poses. Only by declaring that the U.S. government constitutionally cannot default can the American public and the world at large have true faith in our ability to fulfill our National obligations.  

Issues: Economy

Original source can be found here.