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News Link • Government Debt & Financing

Pelosi: Obama Should Raise Debt Limit Directly, Go Around Congress

•, Brian Beutler
 House Minority Leader Nancy Pelosi has changed her public position on an issue that divided Democrats during the fight over raising the debt ceiling last summer. She now says that President Obama should use the 14th Amendment to raise the debt ceiling by fiat — to preserve the country’s credit rating and avoid another economically harmful brinksmanship over the country’s borrowing limit.
“I would like to see the constitution used to protect the country’s full faith and credit,” she told a handful of columnists at a roundtable. According to Matt Yglesias, “She didn’t offer a legal argument in favor of the position, but argued on policy grounds that ‘you cannot put the country through the uncertainty’ again, noting that America’s sovereign debt was downgraded by ratings agencies in the wake of the standoff even though it was successful resolved.”

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