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.”
Biden Says He’s ‘Blameless’ If U.S. Defaults On Debt, Blames Republicans https://t.co/9qpe9UMWnV #OAN
— One America News (@OANN) May 21, 2023
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?