Before a meeting with U.S. House Speaker Kevin McCarthy planned for Monday, President Joe Biden on Sunday renewed his criticism of what GOP lawmakers are demanding in exchange for raising the debt ceiling to prevent an economically catastrophic default.
"I've done my part," Biden told reporters—pointing to his trillions of dollars in proposed spending cuts and new sources of revenue—before heading back to Washington, D.C. from Hiroshima, Japan, where he attended a three-day Group of Seven summit.
"Now it's time for the other side to move... from their extreme positions, because much of what they've already proposed is simply, quite frankly, unacceptable," Biden said of McCarthy (R-Calif.) and the other House Republicans holding the economy hostage.
The president continued:
Let me be clear: I'm not going to agree to a deal that protects, for example, a $30 billion tax break for the oil industry, which made $200 billion last year—they don't need an incentive of another $30 billion—while putting healthcare of 21 million Americans at risk by going after Medicaid.
I’m not going to agree to a deal that protects $200 billion in excess payments for pharmaceutical industries and refusing to count that while cutting over 100,000 schoolteachers and assistants' jobs, 30,000 law enforcement officers' jobs cut across the entire United States of America.
And I'm not going to agree to a deal that protects wealthy tax cheats and crypto traders while putting food assistance at risk for... nearly 1 million Americans.
"It's time for Republicans to accept that there is no bipartisan deal to be made solely... on their partisan terms," Biden added, while also declaring that "America has never defaulted... on our debt, and it never will."
However, Treasury Secretary Janet Yellen has warned that if Congress doesn't raise the debt limit soon, the federal government could run out of money to pay its bills by June 1. Growing fears of a default have prompted some legal scholars and progressive lawmakers to pressure Biden to stop negotiating with GOP hostage-takers and invoke the 14th Amendment to the U.S. Constitution, which says in part that "the validity of the public debt... shall not be questioned."
Among them is Sen. Bernie Sanders (I-Vt.), who wrote in a Sunday email to supporters: "In a manner that is unprecedented and incredibly reckless and cruel, these Republicans have hijacked the debt ceiling process. Their position: If the Congress does not agree to impose savage cuts on the needs of working people, the elderly, the children, the sick, and the poor, they will push the U.S. government to default on its debt. In other words, they are prepared to wreck our economy if they don't get their way."
"In my view, President Biden has the authority and the responsibility under the 14th Amendment of the Constitution to make sure that we continue to pay our bills. The language in that amendment is quite clear," Sanders said, urging anyone who agrees to sign a petition "calling on President Biden to exercise that authority in order to protect the country from the savage Republican budget."
In response to a reporter's question Sunday, Biden said that "I'm looking at the 14th Amendment, as to whether or not we have the authority. I think we have the authority. The question is: Could it be done and invoked in time that it... would not be appealed and, as a consequence, pass the date in question, and still default on the debt? That's a question that I think is unresolved."
The American Prospect executive editor David Dayen suggested in a pair of tweets that rather than inquiring if Biden will invoke the 14th Amendment, journalists should be asking how he plans to respond to an existing lawsuit that involves it.
Earlier this month, lawyers for the National Association of Government Employees (NAGE)—which represents roughly 75,000 workers across federal agenices—filed a suit against Biden and Yellen in the U.S. District Court for the District of Massachusetts.
NAGE, which has endorsed Biden for reelection in 2024, aims to have the debt ceiling law declared unconstitutional, and on Friday—after Dayen publicly pointed out lack of progress with the case—the union's legal team requested emergency action by the court.
Meanwhile, Politicoreported Friday that some Biden aides fear invoking the 14th Amendment "would trigger a pitched legal battle, undermine global faith in U.S. creditworthiness, and damage the economy," and "officials have warned that even the appearance of more seriously considering the 14th Amendment could blow up talks that are already quite delicate."
After departing Japan on Sunday, Biden spoke with McCarthy by phone from Air Force One. Following the call, the GOP speaker confirmed plans to meet with the president on Monday but also said that "my position has not changed."
Sanders, in his email Sunday, wrote that "Republicans' willingness to hold the world's economy hostage to their draconian and cruel demands, and their refusal to consider one penny in new revenue from the wealthy and large corporations, has made it seemingly impossible to enact a bipartisan budget deal at this time."
"The debt ceiling is about paying money that has already been appropriated and spent. It has nothing to do with future budgets and future spending," he stressed. "And throughout the history of our country, the U.S. government has always done what it is supposed to do—we pay our debts."