🤔💵📈 Yellen Say Maybe No Can Use 14th Amendment For Raise Debt Limit

Da Treasury Secretary, da wahine Janet L. Yellen, wen talk on Thursday and she no sure if President Biden can just go ignore da debt limit by using da 14th Amendment, she call dat idea “legally questionable.” 🏦📜🤷‍♀️

Her words coming out when da lawmakers and da Biden administration stay all bumbai over how for raise da debt ceiling, da thing dat keep track how much da federal government can borrow. Last week, Ms. Yellen wen tell da lawmakers dat da United States could run out of money for pay da bills on time by June 1. 📆💸⏳

Mr. Biden going sit down with da top guys from Congress again on Friday, afta da first meeting on Tuesday no could get any kine agreement. 🤝🚫📅

All dis kind action make people wonder if da Biden administration can do something by demself for raise da $31.4 trillion borrowing cap, by using one part from da 14th Amendment dat say “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.” 📜💰📈

Dis strategy would be like one challenge to da constitution against da debt limit. Unda dis theory, da government would have for keep making new debt for pay da guys who own bonds, da people who get Social Security, da government workers, and othas, even if Congress no can lift da limit before da so-called X-date. ⏰🔁💲

But Ms. Yellen, she still no believe in dat idea. 🙅‍♀️

“Going have plenty court cases around dat; not one quick fix,” Ms. Yellen wen say at one news conference in Japan befo’ one meeting with da money guys from da Group of 7 nations. “Legally, no sure if can do dat.” 🇯🇵🎌🎎

Da guys from da Biden administration been looking into da idea, but da president wen say same thing dis week afta he wen meet with da Speaker Kevin McCarthy and he say if da president try raise da debt limit by himself without Congress, going have plenty court cases. 👨‍⚖️⚖️🏛️

As she getting ready for meet with da big kahunas from other countries, Ms. Yellen wen say if no can lift da debt limit, going be all hamajang for da United States and da world economy. She say no can be sure what going happen if default, but she think maybe da government spending going drop big kine and da expected chaos in da financial markets going make one “very substantial downturn.” 🌍💥📉

“One default going threaten da progress we wen work so hard for make over da past few years in our pandemic recovery,” Ms. Yellen wen say. “And going cause one global downturn dat going set us back even mo’.” 😷🌐🔄

She wen add, “Also going make people wonder if da US still can be da leader in da world economy and going make people ask questions about if we can protect our national security.” 🌍💪🌐

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NOW IN ENGLISH

🤔💵📈 Yellen Says Possibly Can’t Use 14th Amendment to Raise Debt Limit

The Treasury Secretary, the woman Janet L. Yellen, spoke on Thursday and she’s not sure if President Biden can simply ignore the debt limit by using the 14th Amendment, she calls that idea “legally questionable.” 🏦📜🤷‍♀️

Her words come out when the lawmakers and the Biden administration are all in uncertainty over how to raise the debt ceiling, the thing that keeps track of how much the federal government can borrow. Last week, Ms. Yellen told the lawmakers that the United States could run out of money to pay the bills on time by June 1. 📆💸⏳

Mr. Biden is going to sit down with the top guys from Congress again on Friday, after the first meeting on Tuesday couldn’t get any kind of agreement. 🤝🚫📅

All this action makes people wonder if the Biden administration can do something by themselves to raise the $31.4 trillion borrowing cap, by using one part from the 14th Amendment that says “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.” 📜💰📈

This strategy would be like a challenge to the constitution against the debt limit. Under this theory, the government would have to keep creating new debt to pay the guys who own bonds, the people who get Social Security, the government workers, and others, even if Congress can’t lift the limit before the so-called X-date. ⏰🔁💲

But Ms. Yellen, she still doesn’t believe in that idea. 🙅‍♀️

“There would be many court cases around that; it’s not a quick fix,” Ms. Yellen said at a news conference in Japan before a meeting with the finance guys from the Group of 7 nations. “Legally, not sure if that can be done.” 🇯🇵🎌🎎

The guys from the Biden administration have been looking into the idea, but the president said the same thing this week after he met with the Speaker Kevin McCarthy and he said if the president tries to raise the debt limit by himself without Congress, it will lead to many court cases. 👨‍⚖️⚖️🏛️

As she’s getting ready to meet with the big shots from other countries, Ms. Yellen said if we can’t lift the debt limit, it’s going to be all chaos for the United States and the world economy. She says we can’t be sure what’s going to happen if default, but she thinks maybe the government spending will drop big time and the expected chaos in the financial markets will lead to a “very substantial downturn.” 🌍💥📉

“A default is going to threaten the progress we’ve worked so hard to make over the past few years in our pandemic recovery,” Ms. Yellen said. “And it’s going to cause a global downturn that will set us back even more.” 😷🌐🔄

She added, “It’s also going to make people wonder if the US can still be the leader in the world economy and will make people ask questions about whether we can protect our national security.” 🌍💪🌐