Jamaal Bowman RIPS Biden for Debt Ceiling Weakness
May 27, 2023
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11:49Now PlayingJamaal Bowman RIPS Biden for Debt Ceiling Weakness
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as posted by the channelRep. Jamaal Bowman (DNY) called Republicans "economic terrorists" and pointed out President Joe Biden's weakness on handling them during debt ceiling talks. Cenk Uygur, John Iadarola and Farron Cousins discuss on The Young Turks.
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"Rep. Jamaal Bowman (D-NY) did not hold back his disappointment with President Joe Biden’s handling of the debt ceiling talks.
The debt ceiling limits the amount of money the federal government may owe.
If Congress and Biden do not agree to raise the limit, the country will default on its obligations on or around June 1. Alternatively, Biden could cite the 14th Amendment to the Constitution – which says the validity of the nation’s debts “shall not be questioned” – as justification to keep issuing more bonds and using the revenue to pay its debts. A more controversial approach would be minting a coin for an amount that would allow the Treasury Department to pay the country’s debts and then some."
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