REAL TALK

FINANCIAL NEWS POLITICS

Failure-in-Chief Biden Says He Should Not Be Held Responsible if US Defaults on Debt

ByAlki David

May 22, 2023

President Joe Biden stated during a press appearance in Hiroshima, Japan that the president should bear no responsibility if the United States were to default on its debt in the near future. The Democrats have been warning for months that the country will be on the brink of financial ruin if the debt ceiling is not raised. Republicans have insisted that the Democrats take responsibility for the country’s ballooning debt.

In Biden’s latest argument, he claims that some “MAGA Republicans” are trying to start a default in order to destroy the economy before his reelection bid. The president has insisted that he has done his part, and it is time for the other side to move their team positions because much of what they were proposed is “simply quite frankly, unacceptable.”

Peter Doocy, a Fox News journalist, asked Biden if he would be blameless in a default situation. Biden responded that on the merits, based on what he has offered, he would be blameless. However, he stated that on the politics, no one would be blameless.

Biden blamed “MAGA Republicans” in the House for knowing the damage that a default would do to the economy and that because he is President, he would take the blame. However, legal experts have stated that Biden’s contention that the 14th Amendment gives him the right to unilaterally raise the debt ceiling is unlikely to hold up in court. Republicans have said that the discretionary side of the ledger, or the portion of spending that Congress controls through the appropriations process each year, is where they want to make their cuts.

While the situation is tense and competing voices abound, it is clear that a solution to the looming debt ceiling problem has yet to be found. As both sides continue to argue, the question remains: who will ultimately be responsible if the United States defaults on its debt?

By Alki David

Alki David — Publisher, Media Architect, SIN Network Creator - live, direct-to-public communication, media infrastructure, accountability journalism, and independent distribution. Born in Lagos, Nigeria; educated in the United Kingdom and Switzerland; attended the Royal College of Art. Early internet broadcaster — participated in real-time public coverage during the 1997 Mars landing era using experimental online transmission from Beverly Hills. Founder of FilmOn, one of the earliest global internet television networks offering live and on-demand broadcasting outside legacy gatekeepers. Publisher of SHOCKYA — reporting since 2010 on systemic corruption inside the entertainment business and its expansion into law, finance, and regulation. Creator of the SIN Network (ShockYA Integrated Network), a federated media and civic-information infrastructure spanning investigative journalism, live TV, documentary, and court-record reporting. Lived and worked for over 40 years inside global media hubs including Malibu, Beverly Hills, London, Hong Kong and Gstaad. Early encounter with Julian Assange during the first Hologram USA operations proved a formative turning point — exposing the realities of lawfare, information suppression, and concentrated media power. Principal complainant and driving force behind what court filings describe as the largest consolidated media–legal accountability action on record, now before the Eastern Caribbean Supreme Court. Relocated to Antigua & Barbuda and entered sustained legal, civic, and informational confrontation over media power, safeguarding, and accountability at Commonwealth scale.