In her Tuesday press conference, Pelosi discussed Democratic plans in the wake of this vote. Because of the “imminent” nature of the debt ceiling crisis, Pelosi said that the caucus spent most of their time on the debt ceiling issue.
She warned of the effects from failing to raise the debt ceiling, including a default for the first time in American history. Such a default, Pelosi said, would wipe out “trillions in family wealth” for middle Americans. Pelosi also warned that “Just the discussion of … failing to raise the debt ceiling [under the Obama Administration] lowered our credit rating.”
She continued: “This is not about future spending, this is to pay the bills that were incurred. Only 3 percent of this is about Joe Biden’s presidency. The bulk of it is under the previous president’s administration.”
Still, Pelosi said that Democrats plan to put forward a new “clean” continuing resolution, the only effect of which would be to continue to fund the government through December. The continuing resolution rejected Monday by the Senate was significantly more expansive, ordering billions in new spending to address the ongoing Afghan special immigrant crisis and the aftereffects of Hurricane Ida.
On the Senate floor Monday, McConnell indicated that he and other Republicans may be willing to vote for such a resolution.
Pelosi also discussed much more ambitious executive options for resolving the current crisis and preventing such crises in the future.
Pelosi criticized the opposition party for their vote.
“When the Republicans refuse to cooperate on this, they are jeopardizing the full faith and credit of the United States of America, which is guaranteed in the Constitution,” she said.
Here, Pelosi is referencing the so-called “public debt clause” of the 14th amendment, which reads, “The validity of the public debt of the United States, authorized by law, including debts incurred for payment of pensions and bounties for services in suppressing insurrection or rebellion, shall not be questioned.” Though the clause was a post-Civil War amendment meant to deal with immediate issues at the time, some have interpreted the clause as giving the president unilateral authority to raise the debt ceiling.
President Bill Clinton, discussing a similar standoff over the debt ceiling in the mid-90s, interpreted this cause to give the president authority to raise the debt limit on his own authority if Congress fails to do so. Clinton said he would have used the clause “without hesitation, and force the courts to stop me.” But many, including President Barack Obama, have been unconvinced of the constitutionality of this move.
This article was originally published by the Epoch Times. Read the full article.
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