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If Congress fails to raise the debt limit, can President Joe Biden somehow borrow more money to save the United States from default? The short answer is no. But that hasn't stopped a group of Senate Democrats from urging Biden to act unilaterally by invoking the 14th Amendment.
Yet the standoff between the president and Congress over the debt ceiling has revived interest in a little-known provision of the 14th Amendment that says the "validity of the public debt of the United States, authorized by law … shall not be questioned." That statement, on its face, does require the government to pay its debts. But it doesn't allow the president to ignore the law passed by Congress that caps borrowing.
The U.S. Constitution puts Congress squarely in charge of both borrowing and spending. The validity of the public debts clause doesn't magically allow the president to violate this most basic element of the separation of powers.
This isn't the first time we've had a debate about the underlying constitutional question of whether the 14th Amendment renders the debt limit somehow unconstitutional. And it's understandable why. When a president faces a Congress not controlled by his own party, he'll look for leverage against lawmakers that want concessions in return for raising the ceiling. Even if the president never actually invokes the clause (no president has), the argument can enhance the president's negotiating position.
But it's important to remember that the whole reason the Constitution gave the spending and borrowing powers to Congress was to ensure a separation of powers between Congress and the executive branch. That separation was intended to let the political process, not the will of one person, determine how the U.S. borrows and spends money.
If the president could unilaterally ignore the debt ceiling, he would be able to borrow money without congressional approval. That's a short step from being able to spend money without Congress — another violation of the basic constitutional scheme.